Corporate Governance Country Assessment : Vietnam

This report assesses Vietnam's corporate governance policy framework. It highlights recent improvements in corporate governance regulation, makes policy recommendations, and provides investors with a benchmark against which to measure corporat...

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Main Author:	World Bank
Format:	Corporate Governance Assessment (ROSC)
Language:	English en_US
Published:	Washington, DC 2014
Subjects:	ADMINISTRATIVE ACTIONS ADVANCED ECONOMIES AUDIT CLIENTS AUDIT COMMITTEE AUDIT COMMITTEES AUDITOR INDEPENDENCE BANK CREDIT BANKRUPTCY BANKS BENEFICIAL OWNERS BOARD MEETINGS BOARD MEMBER BOARD MEMBERS BOARDS OF DIRECTORS CAPITAL EXPENDITURES CAPITAL INVESTMENT CAPITAL MARKET CAPITAL MARKET DEVELOPMENT CAPITAL REQUIREMENTS CENTRAL BANK CEO CEOS CERTIFIED PUBLIC ACCOUNTANTS CHARTER CHARTERS CHIEF EXECUTIVE CIVIL LIABILITY COMMERCIAL BANKS COMMON LAW COMPANY CONFLICT OF INTEREST CONFLICTS OF INTEREST CONTROLLING SHAREHOLDER CONTROLLING SHAREHOLDERS CORPORATE DISCLOSURES CORPORATE GOVERNANCE CORPORATE GOVERNANCE CODE CORPORATE GOVERNANCE FRAMEWORK CORPORATE GOVERNANCE FRAMEWORKS CORPORATE GOVERNANCE REFORMS CORPORATE INFORMATION CORPORATE STRUCTURE CORPORATE TRANSPARENCY CORPORATION COST OF CAPITAL CREDIT INSTITUTIONS DAY TRADING DEBT DEPOSITORY DIRECTOR LIABILITY DISCLOSURE REQUIREMENTS DISPUTE RESOLUTION DISSEMINATION OF INFORMATION DIVIDEND DIVIDEND PAYMENTS DIVIDENDS DUTY OF CARE DUTY OF LOYALTY ECONOMIC CRISIS ECONOMIC DEVELOPMENT EMERGING ECONOMIES EMERGING MARKET EMERGING MARKET COUNTRIES EMERGING MARKETS ENTERPRISE LAW EQUAL TREATMENT EQUITY MARKETS ESTATE EXPOSURE FIDUCIARY DUTIES FINANCE CORPORATION FINANCIAL COMPANIES FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL DISCLOSURE FINANCIAL INFORMATION FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL REPORTS FINANCIAL SECTOR FINANCIAL STATEMENT FINANCIAL STATEMENTS FINANCIAL SYSTEM FIXED ASSETS FOREIGN FUNDS FOREIGN INVESTMENT FOREIGN INVESTOR FOREIGN INVESTORS FOREIGN OWNERSHIP FUND MANAGEMENT FUND MANAGERS GLOBAL CAPITAL GLOBAL CAPITAL MARKETS GOOD CORPORATE GOVERNANCE GOOD GOVERNANCE GOVERNANCE PRACTICES GOVERNANCE REGULATION GOVERNANCE REGULATIONS GROSS DOMESTIC PRODUCT GROUP OF SHAREHOLDERS HOLDING COMPANIES INCOME INDEPENDENCE REQUIREMENTS INDEPENDENT AUDIT INDEPENDENT DIRECTORS INDIVIDUALS INFORMATION SHARING INSIDER TRADING INSTITUTIONAL INVESTORS INSURANCE INSURANCE INDUSTRY INTERNAL CONTROL INTERNAL CONTROLS INTERNATIONAL ACCOUNTING STANDARDS INTERNATIONAL FINANCE INVESTOR CONFIDENCE INVESTOR PROTECTION INVESTOR RELATION JOINT STOCK COMPANIES JURISDICTION JURISDICTIONS LARGE COMPANIES LEGAL FRAMEWORK LEGAL SYSTEM LIMITED LIMITED LIABILITY LIMITED LIABILITY COMPANIES LIQUIDATION MAJOR SHAREHOLDER MAJOR SHAREHOLDERS MAJORITY SHAREHOLDER MANAGERS MARKET CAPITALIZATION MARKET EXPANSION MARKET MANIPULATION MARKET PARTICIPANTS MARKET PRICE MINORITY SHAREHOLDER MINORITY SHAREHOLDERS MUTUAL FUNDS OFFER PRICE OWNERSHIP STRUCTURES PARENT COMPANY PENSION PENSION FUNDS PERSONS PORTFOLIO PRICE MOVEMENTS PRIVATE COMPANIES PRIVATE OWNERSHIP PRIVATIZATION PROFESSIONAL ORGANIZATION PROPERTY RIGHTS PROTECTING MINORITY SHAREHOLDERS PROTECTION OF MINORITY SHAREHOLDERS PROXY PUBLIC COMPANIES PUBLIC COMPANY PUBLIC OFFERINGS PUBLIC POLICY RAPID DEVELOPMENT RAPID GROWTH REAL ESTATE REGISTRATION REQUIREMENTS REGULATORS REGULATORY AUTHORITIES REGULATORY COMPLIANCE REGULATORY FRAMEWORK REGULATORY REQUIREMENTS RETIREMENT SAVINGS RISK MANAGEMENT SECURITIES SECURITIES ISSUANCE SECURITIES LAW SECURITIES MARKET SECURITIES MARKETS SECURITIES REGULATOR SHARE PRICE SHAREHOLDER SHAREHOLDER AGREEMENT SHAREHOLDER AGREEMENTS SHAREHOLDER APPROVAL SHAREHOLDER MEETING SHAREHOLDER MEETINGS SHAREHOLDER RIGHTS SHAREHOLDER VOTING SHAREHOLDERS MEETINGS SHAREHOLDERS RIGHTS STAKEHOLDERS STATE BANK STOCK EXCHANGE STOCK EXCHANGES STOCK MARKET STOCK MARKETS STOCKS SUBSIDIARIES SUBSIDIARY SUPERVISORY AGENCY TAKEOVER TENDER OFFER TENDER OFFERS TRANSACTION COSTS TURNOVER TURNOVER RATIO WEAK CORPORATE GOVERNANCE
Online Access:	http://documents.worldbank.org/curated/en/2013/08/19692713/vietnam-report-observance-standards-codes-rosc-corporate-governance-country-assessment http://hdl.handle.net/10986/20587

id	okr-10986-20587
recordtype	oai_dc
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English en_US
topic	ADMINISTRATIVE ACTIONS ADVANCED ECONOMIES AUDIT CLIENTS AUDIT COMMITTEE AUDIT COMMITTEES AUDITOR INDEPENDENCE BANK CREDIT BANKRUPTCY BANKS BENEFICIAL OWNERS BOARD MEETINGS BOARD MEMBER BOARD MEMBERS BOARDS OF DIRECTORS CAPITAL EXPENDITURES CAPITAL INVESTMENT CAPITAL MARKET CAPITAL MARKET DEVELOPMENT CAPITAL REQUIREMENTS CENTRAL BANK CEO CEOS CERTIFIED PUBLIC ACCOUNTANTS CHARTER CHARTERS CHIEF EXECUTIVE CIVIL LIABILITY COMMERCIAL BANKS COMMON LAW COMPANY CONFLICT OF INTEREST CONFLICTS OF INTEREST CONTROLLING SHAREHOLDER CONTROLLING SHAREHOLDERS CORPORATE DISCLOSURES CORPORATE GOVERNANCE CORPORATE GOVERNANCE CODE CORPORATE GOVERNANCE FRAMEWORK CORPORATE GOVERNANCE FRAMEWORKS CORPORATE GOVERNANCE REFORMS CORPORATE INFORMATION CORPORATE STRUCTURE CORPORATE TRANSPARENCY CORPORATION COST OF CAPITAL CREDIT INSTITUTIONS DAY TRADING DEBT DEPOSITORY DIRECTOR LIABILITY DISCLOSURE REQUIREMENTS DISPUTE RESOLUTION DISSEMINATION OF INFORMATION DIVIDEND DIVIDEND PAYMENTS DIVIDENDS DUTY OF CARE DUTY OF LOYALTY ECONOMIC CRISIS ECONOMIC DEVELOPMENT EMERGING ECONOMIES EMERGING MARKET EMERGING MARKET COUNTRIES EMERGING MARKETS ENTERPRISE LAW EQUAL TREATMENT EQUITY MARKETS ESTATE EXPOSURE FIDUCIARY DUTIES FINANCE CORPORATION FINANCIAL COMPANIES FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL DISCLOSURE FINANCIAL INFORMATION FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL REPORTS FINANCIAL SECTOR FINANCIAL STATEMENT FINANCIAL STATEMENTS FINANCIAL SYSTEM FIXED ASSETS FOREIGN FUNDS FOREIGN INVESTMENT FOREIGN INVESTOR FOREIGN INVESTORS FOREIGN OWNERSHIP FUND MANAGEMENT FUND MANAGERS GLOBAL CAPITAL GLOBAL CAPITAL MARKETS GOOD CORPORATE GOVERNANCE GOOD GOVERNANCE GOVERNANCE PRACTICES GOVERNANCE REGULATION GOVERNANCE REGULATIONS GROSS DOMESTIC PRODUCT GROUP OF SHAREHOLDERS HOLDING COMPANIES INCOME INDEPENDENCE REQUIREMENTS INDEPENDENT AUDIT INDEPENDENT DIRECTORS INDIVIDUALS INFORMATION SHARING INSIDER TRADING INSTITUTIONAL INVESTORS INSURANCE INSURANCE INDUSTRY INTERNAL CONTROL INTERNAL CONTROLS INTERNATIONAL ACCOUNTING STANDARDS INTERNATIONAL FINANCE INVESTOR CONFIDENCE INVESTOR PROTECTION INVESTOR RELATION JOINT STOCK COMPANIES JURISDICTION JURISDICTIONS LARGE COMPANIES LEGAL FRAMEWORK LEGAL SYSTEM LIMITED LIMITED LIABILITY LIMITED LIABILITY COMPANIES LIQUIDATION MAJOR SHAREHOLDER MAJOR SHAREHOLDERS MAJORITY SHAREHOLDER MANAGERS MARKET CAPITALIZATION MARKET EXPANSION MARKET MANIPULATION MARKET PARTICIPANTS MARKET PRICE MINORITY SHAREHOLDER MINORITY SHAREHOLDERS MUTUAL FUNDS OFFER PRICE OWNERSHIP STRUCTURES PARENT COMPANY PENSION PENSION FUNDS PERSONS PORTFOLIO PRICE MOVEMENTS PRIVATE COMPANIES PRIVATE OWNERSHIP PRIVATIZATION PROFESSIONAL ORGANIZATION PROPERTY RIGHTS PROTECTING MINORITY SHAREHOLDERS PROTECTION OF MINORITY SHAREHOLDERS PROXY PUBLIC COMPANIES PUBLIC COMPANY PUBLIC OFFERINGS PUBLIC POLICY RAPID DEVELOPMENT RAPID GROWTH REAL ESTATE REGISTRATION REQUIREMENTS REGULATORS REGULATORY AUTHORITIES REGULATORY COMPLIANCE REGULATORY FRAMEWORK REGULATORY REQUIREMENTS RETIREMENT SAVINGS RISK MANAGEMENT SECURITIES SECURITIES ISSUANCE SECURITIES LAW SECURITIES MARKET SECURITIES MARKETS SECURITIES REGULATOR SHARE PRICE SHAREHOLDER SHAREHOLDER AGREEMENT SHAREHOLDER AGREEMENTS SHAREHOLDER APPROVAL SHAREHOLDER MEETING SHAREHOLDER MEETINGS SHAREHOLDER RIGHTS SHAREHOLDER VOTING SHAREHOLDERS MEETINGS SHAREHOLDERS RIGHTS STAKEHOLDERS STATE BANK STOCK EXCHANGE STOCK EXCHANGES STOCK MARKET STOCK MARKETS STOCKS SUBSIDIARIES SUBSIDIARY SUPERVISORY AGENCY TAKEOVER TENDER OFFER TENDER OFFERS TRANSACTION COSTS TURNOVER TURNOVER RATIO WEAK CORPORATE GOVERNANCE
spellingShingle	ADMINISTRATIVE ACTIONS ADVANCED ECONOMIES AUDIT CLIENTS AUDIT COMMITTEE AUDIT COMMITTEES AUDITOR INDEPENDENCE BANK CREDIT BANKRUPTCY BANKS BENEFICIAL OWNERS BOARD MEETINGS BOARD MEMBER BOARD MEMBERS BOARDS OF DIRECTORS CAPITAL EXPENDITURES CAPITAL INVESTMENT CAPITAL MARKET CAPITAL MARKET DEVELOPMENT CAPITAL REQUIREMENTS CENTRAL BANK CEO CEOS CERTIFIED PUBLIC ACCOUNTANTS CHARTER CHARTERS CHIEF EXECUTIVE CIVIL LIABILITY COMMERCIAL BANKS COMMON LAW COMPANY CONFLICT OF INTEREST CONFLICTS OF INTEREST CONTROLLING SHAREHOLDER CONTROLLING SHAREHOLDERS CORPORATE DISCLOSURES CORPORATE GOVERNANCE CORPORATE GOVERNANCE CODE CORPORATE GOVERNANCE FRAMEWORK CORPORATE GOVERNANCE FRAMEWORKS CORPORATE GOVERNANCE REFORMS CORPORATE INFORMATION CORPORATE STRUCTURE CORPORATE TRANSPARENCY CORPORATION COST OF CAPITAL CREDIT INSTITUTIONS DAY TRADING DEBT DEPOSITORY DIRECTOR LIABILITY DISCLOSURE REQUIREMENTS DISPUTE RESOLUTION DISSEMINATION OF INFORMATION DIVIDEND DIVIDEND PAYMENTS DIVIDENDS DUTY OF CARE DUTY OF LOYALTY ECONOMIC CRISIS ECONOMIC DEVELOPMENT EMERGING ECONOMIES EMERGING MARKET EMERGING MARKET COUNTRIES EMERGING MARKETS ENTERPRISE LAW EQUAL TREATMENT EQUITY MARKETS ESTATE EXPOSURE FIDUCIARY DUTIES FINANCE CORPORATION FINANCIAL COMPANIES FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL DISCLOSURE FINANCIAL INFORMATION FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL REPORTS FINANCIAL SECTOR FINANCIAL STATEMENT FINANCIAL STATEMENTS FINANCIAL SYSTEM FIXED ASSETS FOREIGN FUNDS FOREIGN INVESTMENT FOREIGN INVESTOR FOREIGN INVESTORS FOREIGN OWNERSHIP FUND MANAGEMENT FUND MANAGERS GLOBAL CAPITAL GLOBAL CAPITAL MARKETS GOOD CORPORATE GOVERNANCE GOOD GOVERNANCE GOVERNANCE PRACTICES GOVERNANCE REGULATION GOVERNANCE REGULATIONS GROSS DOMESTIC PRODUCT GROUP OF SHAREHOLDERS HOLDING COMPANIES INCOME INDEPENDENCE REQUIREMENTS INDEPENDENT AUDIT INDEPENDENT DIRECTORS INDIVIDUALS INFORMATION SHARING INSIDER TRADING INSTITUTIONAL INVESTORS INSURANCE INSURANCE INDUSTRY INTERNAL CONTROL INTERNAL CONTROLS INTERNATIONAL ACCOUNTING STANDARDS INTERNATIONAL FINANCE INVESTOR CONFIDENCE INVESTOR PROTECTION INVESTOR RELATION JOINT STOCK COMPANIES JURISDICTION JURISDICTIONS LARGE COMPANIES LEGAL FRAMEWORK LEGAL SYSTEM LIMITED LIMITED LIABILITY LIMITED LIABILITY COMPANIES LIQUIDATION MAJOR SHAREHOLDER MAJOR SHAREHOLDERS MAJORITY SHAREHOLDER MANAGERS MARKET CAPITALIZATION MARKET EXPANSION MARKET MANIPULATION MARKET PARTICIPANTS MARKET PRICE MINORITY SHAREHOLDER MINORITY SHAREHOLDERS MUTUAL FUNDS OFFER PRICE OWNERSHIP STRUCTURES PARENT COMPANY PENSION PENSION FUNDS PERSONS PORTFOLIO PRICE MOVEMENTS PRIVATE COMPANIES PRIVATE OWNERSHIP PRIVATIZATION PROFESSIONAL ORGANIZATION PROPERTY RIGHTS PROTECTING MINORITY SHAREHOLDERS PROTECTION OF MINORITY SHAREHOLDERS PROXY PUBLIC COMPANIES PUBLIC COMPANY PUBLIC OFFERINGS PUBLIC POLICY RAPID DEVELOPMENT RAPID GROWTH REAL ESTATE REGISTRATION REQUIREMENTS REGULATORS REGULATORY AUTHORITIES REGULATORY COMPLIANCE REGULATORY FRAMEWORK REGULATORY REQUIREMENTS RETIREMENT SAVINGS RISK MANAGEMENT SECURITIES SECURITIES ISSUANCE SECURITIES LAW SECURITIES MARKET SECURITIES MARKETS SECURITIES REGULATOR SHARE PRICE SHAREHOLDER SHAREHOLDER AGREEMENT SHAREHOLDER AGREEMENTS SHAREHOLDER APPROVAL SHAREHOLDER MEETING SHAREHOLDER MEETINGS SHAREHOLDER RIGHTS SHAREHOLDER VOTING SHAREHOLDERS MEETINGS SHAREHOLDERS RIGHTS STAKEHOLDERS STATE BANK STOCK EXCHANGE STOCK EXCHANGES STOCK MARKET STOCK MARKETS STOCKS SUBSIDIARIES SUBSIDIARY SUPERVISORY AGENCY TAKEOVER TENDER OFFER TENDER OFFERS TRANSACTION COSTS TURNOVER TURNOVER RATIO WEAK CORPORATE GOVERNANCE World Bank Corporate Governance Country Assessment : Vietnam
geographic_facet	East Asia and Pacific Vietnam
description	This report assesses Vietnam's corporate governance policy framework. It highlights recent improvements in corporate governance regulation, makes policy recommendations, and provides investors with a benchmark against which to measure corporate governance in Vietnam. It is an update of the 2006 Corporate Governance ROSC for Vietnam. Good corporate governance enhances investor trust, protects minority shareholders, and encourages better decision making and improved relations with workers, creditors, and other stakeholders. Better investor protection can lower the cost of capital and encourage companies to list and raise funds through equity markets. Good corporate governance also helps to ensure that these companies operate more transparently and efficiently. Vietnam has undertaken important corporate governance reforms in recent years. However protecting minority shareholders, fully tapping the potential of capital markets, and professionalizing boards and management will require that reform continues. Key reforms include: Developing an action plan to address core failings of state owned enterprise corporate governance, including replacing the current state economic groups, or SEG oriented system with one that has more accountable state ownership; and Increasing transparency with greater auditor independence, better disclosure of ownership and control, and convergence of accounting standards with International Financial Reporting Standards, or IFRS.
format	Economic & Sector Work :: Corporate Governance Assessment (ROSC)
author	World Bank
author_facet	World Bank
author_sort	World Bank
title	Corporate Governance Country Assessment : Vietnam
title_short	Corporate Governance Country Assessment : Vietnam
title_full	Corporate Governance Country Assessment : Vietnam
title_fullStr	Corporate Governance Country Assessment : Vietnam
title_full_unstemmed	Corporate Governance Country Assessment : Vietnam
title_sort	corporate governance country assessment : vietnam
publisher	Washington, DC
publishDate	2014
url	http://documents.worldbank.org/curated/en/2013/08/19692713/vietnam-report-observance-standards-codes-rosc-corporate-governance-country-assessment http://hdl.handle.net/10986/20587
_version_	1764445806748762112
spelling	okr-10986-205872021-04-23T14:03:56Z Corporate Governance Country Assessment : Vietnam World Bank ADMINISTRATIVE ACTIONS ADVANCED ECONOMIES AUDIT CLIENTS AUDIT COMMITTEE AUDIT COMMITTEES AUDITOR INDEPENDENCE BANK CREDIT BANKRUPTCY BANKS BENEFICIAL OWNERS BOARD MEETINGS BOARD MEMBER BOARD MEMBERS BOARDS OF DIRECTORS CAPITAL EXPENDITURES CAPITAL INVESTMENT CAPITAL MARKET CAPITAL MARKET DEVELOPMENT CAPITAL REQUIREMENTS CENTRAL BANK CEO CEOS CERTIFIED PUBLIC ACCOUNTANTS CHARTER CHARTERS CHIEF EXECUTIVE CIVIL LIABILITY COMMERCIAL BANKS COMMON LAW COMPANY CONFLICT OF INTEREST CONFLICTS OF INTEREST CONTROLLING SHAREHOLDER CONTROLLING SHAREHOLDERS CORPORATE DISCLOSURES CORPORATE GOVERNANCE CORPORATE GOVERNANCE CODE CORPORATE GOVERNANCE FRAMEWORK CORPORATE GOVERNANCE FRAMEWORKS CORPORATE GOVERNANCE REFORMS CORPORATE INFORMATION CORPORATE STRUCTURE CORPORATE TRANSPARENCY CORPORATION COST OF CAPITAL CREDIT INSTITUTIONS DAY TRADING DEBT DEPOSITORY DIRECTOR LIABILITY DISCLOSURE REQUIREMENTS DISPUTE RESOLUTION DISSEMINATION OF INFORMATION DIVIDEND DIVIDEND PAYMENTS DIVIDENDS DUTY OF CARE DUTY OF LOYALTY ECONOMIC CRISIS ECONOMIC DEVELOPMENT EMERGING ECONOMIES EMERGING MARKET EMERGING MARKET COUNTRIES EMERGING MARKETS ENTERPRISE LAW EQUAL TREATMENT EQUITY MARKETS ESTATE EXPOSURE FIDUCIARY DUTIES FINANCE CORPORATION FINANCIAL COMPANIES FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL DISCLOSURE FINANCIAL INFORMATION FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL REPORTS FINANCIAL SECTOR FINANCIAL STATEMENT FINANCIAL STATEMENTS FINANCIAL SYSTEM FIXED ASSETS FOREIGN FUNDS FOREIGN INVESTMENT FOREIGN INVESTOR FOREIGN INVESTORS FOREIGN OWNERSHIP FUND MANAGEMENT FUND MANAGERS GLOBAL CAPITAL GLOBAL CAPITAL MARKETS GOOD CORPORATE GOVERNANCE GOOD GOVERNANCE GOVERNANCE PRACTICES GOVERNANCE REGULATION GOVERNANCE REGULATIONS GROSS DOMESTIC PRODUCT GROUP OF SHAREHOLDERS HOLDING COMPANIES INCOME INDEPENDENCE REQUIREMENTS INDEPENDENT AUDIT INDEPENDENT DIRECTORS INDIVIDUALS INFORMATION SHARING INSIDER TRADING INSTITUTIONAL INVESTORS INSURANCE INSURANCE INDUSTRY INTERNAL CONTROL INTERNAL CONTROLS INTERNATIONAL ACCOUNTING STANDARDS INTERNATIONAL FINANCE INVESTOR CONFIDENCE INVESTOR PROTECTION INVESTOR RELATION JOINT STOCK COMPANIES JURISDICTION JURISDICTIONS LARGE COMPANIES LEGAL FRAMEWORK LEGAL SYSTEM LIMITED LIMITED LIABILITY LIMITED LIABILITY COMPANIES LIQUIDATION MAJOR SHAREHOLDER MAJOR SHAREHOLDERS MAJORITY SHAREHOLDER MANAGERS MARKET CAPITALIZATION MARKET EXPANSION MARKET MANIPULATION MARKET PARTICIPANTS MARKET PRICE MINORITY SHAREHOLDER MINORITY SHAREHOLDERS MUTUAL FUNDS OFFER PRICE OWNERSHIP STRUCTURES PARENT COMPANY PENSION PENSION FUNDS PERSONS PORTFOLIO PRICE MOVEMENTS PRIVATE COMPANIES PRIVATE OWNERSHIP PRIVATIZATION PROFESSIONAL ORGANIZATION PROPERTY RIGHTS PROTECTING MINORITY SHAREHOLDERS PROTECTION OF MINORITY SHAREHOLDERS PROXY PUBLIC COMPANIES PUBLIC COMPANY PUBLIC OFFERINGS PUBLIC POLICY RAPID DEVELOPMENT RAPID GROWTH REAL ESTATE REGISTRATION REQUIREMENTS REGULATORS REGULATORY AUTHORITIES REGULATORY COMPLIANCE REGULATORY FRAMEWORK REGULATORY REQUIREMENTS RETIREMENT SAVINGS RISK MANAGEMENT SECURITIES SECURITIES ISSUANCE SECURITIES LAW SECURITIES MARKET SECURITIES MARKETS SECURITIES REGULATOR SHARE PRICE SHAREHOLDER SHAREHOLDER AGREEMENT SHAREHOLDER AGREEMENTS SHAREHOLDER APPROVAL SHAREHOLDER MEETING SHAREHOLDER MEETINGS SHAREHOLDER RIGHTS SHAREHOLDER VOTING SHAREHOLDERS MEETINGS SHAREHOLDERS RIGHTS STAKEHOLDERS STATE BANK STOCK EXCHANGE STOCK EXCHANGES STOCK MARKET STOCK MARKETS STOCKS SUBSIDIARIES SUBSIDIARY SUPERVISORY AGENCY TAKEOVER TENDER OFFER TENDER OFFERS TRANSACTION COSTS TURNOVER TURNOVER RATIO WEAK CORPORATE GOVERNANCE This report assesses Vietnam's corporate governance policy framework. It highlights recent improvements in corporate governance regulation, makes policy recommendations, and provides investors with a benchmark against which to measure corporate governance in Vietnam. It is an update of the 2006 Corporate Governance ROSC for Vietnam. Good corporate governance enhances investor trust, protects minority shareholders, and encourages better decision making and improved relations with workers, creditors, and other stakeholders. Better investor protection can lower the cost of capital and encourage companies to list and raise funds through equity markets. Good corporate governance also helps to ensure that these companies operate more transparently and efficiently. Vietnam has undertaken important corporate governance reforms in recent years. However protecting minority shareholders, fully tapping the potential of capital markets, and professionalizing boards and management will require that reform continues. Key reforms include: Developing an action plan to address core failings of state owned enterprise corporate governance, including replacing the current state economic groups, or SEG oriented system with one that has more accountable state ownership; and Increasing transparency with greater auditor independence, better disclosure of ownership and control, and convergence of accounting standards with International Financial Reporting Standards, or IFRS. 2014-11-19T22:53:09Z 2014-11-19T22:53:09Z 2013-08 http://documents.worldbank.org/curated/en/2013/08/19692713/vietnam-report-observance-standards-codes-rosc-corporate-governance-country-assessment http://hdl.handle.net/10986/20587 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ Washington, DC Economic & Sector Work :: Corporate Governance Assessment (ROSC) Economic & Sector Work East Asia and Pacific Vietnam

Corporate Governance Country Assessment : Vietnam

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