RMIT Vietnam NewsCorporate Governance

Corporate Governance

Sunday, June 30, 2013 - 01:39
The speaker panel of the workshop
RMIT Vietnam Vice President Prof Ron Edwards receives a gift from the Saigon Entrepreneurs Association representative

The Saigon Entrepreneurs Association comes to RMIT Vietnam to talk about corporate governance.

More than one hundred people were present at RMIT Vietnam's Saigon South campus early on Saturday 8 June for a corporate governance workshop co-hosted by RMIT and the Saigon Entrepreneurs Association.

With a particular focus on representatives from multinational companies' sharing their thoughts and experience on corporate governance, the gathering featured a host of CEOs from major corporate players.

Speakers included Philip Dao, Managing Director of Johnson & Johnson Vietnam, Pham Thai Lai, President and CEO of Siemens Vietnam, Johan Nyvene, CEO of HSC, and Tri Pham, General Manager of Deutsche Bank AG Vietnam.

Much of the discussion emphasised the importance of proper corporate governance to allow for Vietnamese corporations to continue integration into the regional and global economy.

"Corporate governance is the major premise for the development of corporations in Vietnam," Philip Dao, Managing Director of Johnson & Johnson Vietnam said.

Many reasons why Vietnamese corporations need to reinforce corporate governance were given in the workshop.

"Vietnamese companies must strengthen their corporate governance," said Johan Nyvene, CEO of HSC. "Weak corporate governance can lead to many risks including ineffective operation, legal violations, financial loss and reduction in enterprise value."

Corporate governance refers to the rules, regulations, processes and laws by which businesses are operated, regulated, and controlled.

In recent years, corporate governance has received increased attention due to numerous scandals involving high-profile corporate officers who committed unethical or illegal acts in the name of their organisation.