Business

Businesses advised to increase transparency to prevent corruption

Compliance with international standards, including those on transparency, has become more urgent for Vietnamese enterprises when they are expanding operation at the global scale, according to Executive Director of Towards Transparency (TI) Nguyen Thi Kieu Vien.
Businesses advised to increase transparency to prevent corruption ảnh 1At the workshop (Photo:VNA)
Hanoi (VNA) – Compliance withinternational standards, including those on transparency, has become moreurgent for Vietnamese enterprises when they are expanding operation at theglobal scale, according to Executive Director of Towards Transparency (TI)Nguyen Thi Kieu Vien.

Speaking at a ceremony in Hanoi on April 26 toannounce the report Transparency in Corporate Reporting: Assessing the 30 largestcompanies in Vietnam (TRAC Vietnam 2017), she said when companies are committedto transparency, their accountability will improved, thus creating positiveimpacts on their staff.

The internal anti-corruption programme is one ofthe best protection measures for businesses when facing corruptive and legalrisks, she said.

According to the TI report, only seven out ofthe 30 companies make public commitments to abiding by legal regulations,including the Law on Corruption Prevention and Combat.

Just four among the 30 businesses announcedtheir leaders’ commitments to support anti-corruption efforts.

Vietnam was ranked 113th out of the 176countries in the TI Corruption Perceptions Index (CPI) in 2016.

At the same time, the TI said a number ofVietnamese businesses gained good points in the transparency of businessstructure and ownership ratio, with two getting the maximum scores.

This shows Vietnamese businesses are capable ofmeeting international standards on transparency, Vien said.-VNA
VNA
#transparency #accountability #standards #businesses #operation #corruption #prevention
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