Deputy PM: Culture is basis for sustainable corporate development

Deputy PM Truong Hoa Binh speaks at the forum - Photo: VGP

He made the statement at the forum entitled 'Corporate Culture - Basis for Sustainable Development' held in Ho Chi Minh City on October 15.

"Corporate culture is the essence of a brand and represents the difference in the value of enterprises. A good brand is not only the asset of an enterprise but is also a national treasure", Deputy PM Binh stated.

According to the Deputy PM, the Vietnamese enterprise community have made great efforts in building and developing corporate culture in the spirit of respecting the law, enhancing business ethics, showing responsibility towards society and following healthy competition which have significantly contributed to improving the brand, image, and sustainable development of enterprises and the national economy.

However, he noted that the building and development of corporate culture has also showed inadequacies, including undue attention being paid to business ethics, causing many pressing issues. Many businesses find ways to receive benefits through violating the law, including the production, importation, and trading of counterfeit, poor quality and unsafe goods.

The Deputy PM said that these acts not only cause economic losses but also discredit Vietnamese goods.

At the forum, Deputy PM Binh also affirmed that the Government is committed to accompanying the business community through the continuous improvements to legal institutions, the reform of administrative procedures and the investment environment, while preventing wastefulness and corruption.

Furthermore, strict punishment will be imposed on any acts of harassment, profiteering, and corruption in a bid to create favourable conditions for enterprises to develop and innovate.

At the forum, the Vietnam Association for Business Culture Development announced the Corporate Culture Criteria which consist of six major categories: the culture of business leaders, the building and implementation of corporate culture, respect of the law, business ethics, the implementation of social responsibility, and healthy competition.

This is considered as the basis for the association to evaluate and honour typical cultural enterprises in the near future.