To seize opportunities and mitigate risks, especially in the context of Vietnam’s strong commitment to sustainable development at COP26, building a sustainable governance system and training visionary leaders is more crucial than ever. Senior leaders play a pivotal role in driving enterprise transformation and embracing sustainability.
Recognizing this reality, VIETSTAR (Vietnam) has strategically partnered with the Singapore Institute of Directors (SID) to develop the International Board of Directors Programme (IBOD) – a specialized program exclusively for senior leaders, adopting Singapore’s best governance practices. IBOD has swiftly established itself as one of Vietnam’s leading executive training programs in corporate governance.
Since its inception in 2022, the program has gathered over 20 distinguished speakers, including Chairpersons, CEOs, C-suite executives, and advisors from Singapore. Notable among them are Mr. John Lim, former Chairman of the Asia Corporate Governance Network of the Organisation for Economic Co-operation and Development (OECD); Mr. Shai Ganu, Global Steering Committee Member of the World Economic Forum’s Climate Governance Initiative; Ms. Wong Su-yen, former Chairman of SID, and Board Member at First Resources, CSE Global, and IMDA; and Mr. Hnn-Hui Hii, Partner-in-Charge at Heidrick & Struggles, focusing on industrial solutions in Asia Pacific.
Fostering Sustainable Corporate Governance
In an increasingly competitive and environmentally conscious world, sustainable governance is not just a trend but a compass guiding businesses through turbulent times. Mr. Colin Low, Independent Director and Chairman of the Audit & Risk Management Committee at AET Tankers, and one of the program’s speakers, emphasized the crucial role of the Board in mitigating risks, safeguarding business interests, and promoting sustainability. To achieve this, the Board must establish a transparent ESG reporting system and foster a collaborative work environment, uniting all members towards a shared goal.
The Board is the heart and soul of an enterprise. Mr. Joe Keen Poon, Chairman of WEY Technology, another esteemed speaker, underscored the importance of vision and strategic objectives in guiding the enterprise. Notably, he introduced the Singapore Code of Governance as a “sharp tool” to aid the Board in making prudent decisions and ensuring transparency and efficiency in their operations.
The Board and CEO: Crafting, Executing, and Supervising Effective Strategies
According to Mr. David Wikins, Founder of Bamboo Code and author of the renowned book “The Secrets of Transformational Leaders: Turning Challenges into Opportunities to Accelerate and Grow Your Business,” effective collaboration between the Board and executive management is essential for business growth and acceleration. The key lies in the power balance between the Board Chair and the CEO and, more broadly, between the Board and the executive team. Clear delineation of roles and responsibilities can reduce conflicts and encourage open and honest sharing among all members, ultimately benefiting the company.
International Board of Directors Programme SID-VIETSTAR Batch 1 in Singapore, October 2023
On August 23, 2024, the third batch of the International Board of Directors Programme concluded successfully, equipping leaders with the latest governance insights and preparing them to embrace the best governance practices and face the challenges of the new era.
SID – VIETSTAR: Journey towards 2025
Mr. Terence Quek, CEO of SID, shared, “In the coming year, besides continuing the International Board of Directors Programme, SID and VIETSTAR will jointly develop the Advanced Board of Directors Programme for seasoned leaders serving as Chairpersons, CEOs, and C-suite executives, drawing on governance models and best practices from ASEAN.”
“VIETSTAR established its collaboration with SID in 2022. Up to now, after two years, we have trained more than 70 Chairpersons, CEOs, and senior leaders from leading organizations in Vietnam, such as the Vietnam Oil and Gas Group (PVN), Binh Son Refinery and Petrochemical Joint Stock Company (BSR), Ca Mau Petroleum Fertilizer Joint Stock Company (PVCFC), EVN Generation Corporation 2 (EVN GENCO 2), and Southern Power Corporation (EVN SPC),” said Ms. Pham Thi Thu Hang, CEO of VIETSTAR. “In addition to training, we will establish bilateral forums/conferences in Vietnam and Singapore to expand the network of sustainable ASEAN leaders. This will be a crucial stepping stone for Vietnamese businesses to deeply integrate into the global economy and achieve success in corporate governance in the era of sustainability.”
As VIETSTAR and SID forge ahead towards their shared vision for 2025, they remain committed to empowering leaders with the knowledge and networks necessary to navigate the complexities of sustainable development and drive positive change in their organizations.
The Advantages of Saint-Gobain in the “Green Racing” Track
Pioneering early investments in the production and supply of lightweight, sustainable construction materials, Saint-Gobain has achieved success and is ready to expand its ecosystem of these solutions to meet the potential market demand in Vietnam.
Adapting to the trend, ITL is ready to take off.
Being attuned to global logistics trends is one of the secrets that helps ITL stay on track and shorten the journey towards our goals.
Southern Real Estate Market and Expectations for “Surfing” 2024
In 2024, numerous entrepreneurs and investors have high hopes for a market with potentials that can “surpass the waves and go beyond”.
Dak Lak expects to rise with the “Year of the Dragon”
The Provincial Development Plan of Dak Lak for the period 2021-2030, with a vision until 2050, has just been approved by the Prime Minister in Decision No. 1747/2023. This plan will serve as an important legal framework for the province to formulate economic and social development policies, attract investments, and realize the aspiration of placing Dak Lak’s economy among the top 25 provinces in the country by 2050.
