Participants at a forum on corporate culture in HCM City (Photo: VGP) Hanoi (VNA) -Deputy Prime Minister Truong Hoa Binh has urged businesses to develop corporateculture, a factor critical for brand building and sustainable development.
Binh was speaking at a forum about corporate culture, jointly held by the VietnamAssociation of Corporate Culture Development and the HCM City WomenEntrepreneur Association in the southern city on October 15.
Binh said corporate culture should be regarded as the decisive factor forsustainable development of any firm and of the whole economy for rapidinternational integration.
“A good brand is not only an asset of the company, but also of the country,” hesaid.
However, the development of corporate culture among Vietnamese businessesremained limited, especially in the building of business ethics, which createdstinging social problems.
Many firms, for profits, violated regulations, such as selling fake andpoor-quality products. This was causing economic losses and underminingconsumer confidence in Vietnamese goods.
Bình urged businesses to strive towards building corporate culture, complyingwith established laws and healthy competition.
The Government would assist businesses through the efforts to enhance the legalinstitution, hastening administrative reform and improving business climate andcompetitiveness, Binh said.
In addition, violations would be strictly penalised to create favourableconditions for businesses to start, develop and renovate.
Nguyen Thanh Phong, Chairman of the municipal People’s Committee, said the citywanted firms to share difficulties they faced in building corporate culture,through which support would be raised to help firms develop sustainably.
HCM City currently has some 323,000 firms, more than 98 percent of which wereof micro and small scale, however, most failed to build corporate culture.
According to Cao Ngoc Dung from Phu Nhuan Jewelry, Vietnamese firms shouldcooperate with each other to grow instead of competing in an unhealthy manner.
At the conference, the Vietnam Association of Corporate Culture Developmentannounced the setting of standards for corporate culture, which included sixcriteria -- culture of leadership, building and implementing corporate value,law abidance and business ethics, as well as social responsibility and healthycompetition.
An organisation board for the campaign to build corporate culture in Vietnam alsomade its debut at the conference.-VNA
Binh was speaking at a forum about corporate culture, jointly held by the VietnamAssociation of Corporate Culture Development and the HCM City WomenEntrepreneur Association in the southern city on October 15.
Binh said corporate culture should be regarded as the decisive factor forsustainable development of any firm and of the whole economy for rapidinternational integration.
“A good brand is not only an asset of the company, but also of the country,” hesaid.
However, the development of corporate culture among Vietnamese businessesremained limited, especially in the building of business ethics, which createdstinging social problems.
Many firms, for profits, violated regulations, such as selling fake andpoor-quality products. This was causing economic losses and underminingconsumer confidence in Vietnamese goods.
Bình urged businesses to strive towards building corporate culture, complyingwith established laws and healthy competition.
The Government would assist businesses through the efforts to enhance the legalinstitution, hastening administrative reform and improving business climate andcompetitiveness, Binh said.
In addition, violations would be strictly penalised to create favourableconditions for businesses to start, develop and renovate.
Nguyen Thanh Phong, Chairman of the municipal People’s Committee, said the citywanted firms to share difficulties they faced in building corporate culture,through which support would be raised to help firms develop sustainably.
HCM City currently has some 323,000 firms, more than 98 percent of which wereof micro and small scale, however, most failed to build corporate culture.
According to Cao Ngoc Dung from Phu Nhuan Jewelry, Vietnamese firms shouldcooperate with each other to grow instead of competing in an unhealthy manner.
At the conference, the Vietnam Association of Corporate Culture Developmentannounced the setting of standards for corporate culture, which included sixcriteria -- culture of leadership, building and implementing corporate value,law abidance and business ethics, as well as social responsibility and healthycompetition.
An organisation board for the campaign to build corporate culture in Vietnam alsomade its debut at the conference.-VNA
VNA
