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The key to leaner, meaner competition? Wising up on corporate governance could be crucial as Vietnam integrates into the global economy. Xuan Son attended a recent seminar entitled `Corporate Governance Development in Vietnam' to find out more. (Insight).

Article Excerpt
`A KEY determinant of prosperity' was how foreign experts who gathered for a recent seminar in Hanoi referred to the importance of corporate governance in Vietnam's developing economy.

Indeed, the nation was urged to catch up with its Asian competitors in developing the concept in order to be competitive in exports, attract foreign investment and in the domestic market following trade liberalisation measures.

Professor of International Finance at Victoria University of Wellington New Zealand, P Dickie said that corporate governance was "deeply needed for Vietnam, especially in the ongoing process of streamlining State Owned Enterprises [SOEs]. It brings benefits for all."

Dickie continued: "Good corporate governance pays huge dividends for stakeholders with better information and higher returns," while it "brings higher wages and more job security for employees."

Furthermore, "it not only helps the government with higher tax yields, improved financial stability and competitiveness, but also provides better information and debt service coverage for creditors."

Dr Cyril Lin, team leader and SOE reform/corporate...

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