Vietnam and Singapore are stepping up cooperation to strengthen the capabilities of independent board directors, promote alignment with international corporate governance practices and boost investor confidence amid growing demands for transparency and accountability.

On October 27, the VNIDA Vietnam Institute of Corporate Governance (VNICG) and the Institute of Singapore Chartered Accountants (ISCA) held a seminar at the Ho Chi Minh City Stock Exchange (HOSE) entitled “Strengthening Independent Directors’ Capabilities in Emerging Markets: Aligning Corporate Governance Standards and Practices in Vietnam and Singapore”.

Mr. Pang Te Cheng, Consul-General of Singapore in Ho Chi Minh City, said stronger corporate governance and professional expertise were important for attracting international capital, particularly as Vietnam advances plans to have international financial centers operated in Ho Chi Minh City and Da Nang.

He said cooperation between ISCA and VNICG would combine the two countries’ experience to strengthen professional standards, transparency and investor confidence, while further deepening bilateral ties.

During the event, VNICG and ISCA signed a cooperation agreement to connect current and prospective board directors in Vietnam and Singapore, while exploring opportunities for board leadership development programmes, professional knowledge-sharing and networking.

Under the agreement, ISCA will contribute its network and expertise in board governance, financial oversight and risk management, while VNICG will provide insights into Vietnam’s business environment, corporate governance practices and independent director community.

The two organisations also announced a dual-certification Independent Director Development Program (IDDP), combining the BOD Masterclass developed by ISCA Academy and SAC Capital with Vietnam’s regulatory framework and business environment. The programme aims to equip participants with knowledge of governance practices in both markets.

Source: VnEconomy

https://en.vneconomy.vn/vietnam-singapore-strengthen-cooperation-on-corporate-governance.htm