Viet Nam News HÀ NỘI — Vietnamese firms should focus on environmental protection and corporate social responsibility when investing abroad to develop sustainably and promote the socio-economic development of their host countries, experts have urged. The existing legal system does not clearly state the corporate responsibility of overseas projects operated by Vietnamese firms. However, firms cannot ignore corporate responsibility if they want their projects to develop and bring long-term economic benefits. According to Phạm Quang Tú from Oxfam Việt Nam, when investing abroad, Vietnamese firms must clearly understand the legal system about social and environmental protection, respect the cultural heritages of the host country and consult those who could be affected by their projects before implementation. In addition, social and environmental impact reports must be conducted together, ensuring compliance with the host countries’ regulations, … [Read more...] about Firms investing abroad urged to pay attention to corporate social responsibility
Corporate social responsibility news
EU, ILO begin project to improve corporate social responsibility
Viet Nam News HCM CITY – The EU, the International Labour Organisation (ILO) and the Organisation for Economic Cooperation and Development (OECD) have joined hands to launch the "Responsible Supply Chains in Asia" project, including in Việt Nam. “The project aims to promote responsible supply chains in increasing corporate social responsibility/responsible business conduct (CSR/RBC) system with regards to decent work, environmental sustainability and respect for human rights,” Fredy Guayacan, the programme manager, told a seminar held in HCM City on Tuesday to introduce the project. The project is based on the 2017 ILO Tripartite Declaration of Principles concerning Multinational Enterprises and Social Policy and 2011 OECD Guidelines for Multinational Enterprises, he said. “The project targets to increase understanding and knowledge of investors, businesses, civil society organisations and policy makers on CSR/RBC from the perspective of decent work. … [Read more...] about EU, ILO begin project to improve corporate social responsibility
Firms have social responsibility
A forum held in HCM City on December 7 on corporate sustainability. Experts said that Vietnamese companies should be more socially responsible and have more diverse boards of directors. – VNA/VNS Photo Việt DũngViet Nam News HCM CITY – Highly capable and diverse boards of directors that adhere to social responsibility are crucial for corporate sustainability, experts said during a forum in HCM City on December 7. The forum was held by Việt Nam Institute of Directors (VIOD) and Việt Nam Corporate Governance Initiative (VCGI), both of which focus on promoting good corporate governance practices. Amar Gill, managing director of BlackRock, a New York-based global investment management corporation, said that to achieve corporate sustainability, a company has to focus on its operation and long term vision, and examine its management capability and impact on the environment and society. In addition to keeping the best interests of … [Read more...] about Firms have social responsibility
BUSINESS NEWS IN BRIEF 4/8
PetroVietnam signs deals on Sao Vang-Dai Nguyet gas field exploitation A series of trade agreements on exploiting the Sao Vang-Dai Nguyet gas field was inked between the Vietnam National Oil and Gas Group (PetroVietnam) and its partners in Hanoi on July 31. The agreements included a gas sales and purchase and a gas supply agreement. The stakeholder participation in the Petroleum Sharing Contract includes the operator Idemitsu Kosan Co Ltd with 43.08 percent; Teikoku Oil (Con Son) Co Ltd, 36.92 percent; and PetroVietnam, 20 percent. Speaking at the signing ceremony, PVN General Director Nguyen Vu Truong Son said the signing of trade agreements achieved after over two years of negotiations among sides involved. He said the event is very significant for the gas filed to turn out the first flow of oil and gas in the third quarter of 2020, with an estimated annual output of 1.5 billion cubic metres of gas and of 2.8 million barrels of crude oil and natural-gas condensate. The … [Read more...] about BUSINESS NEWS IN BRIEF 4/8
Social News 19/7
Project on rare primate preservation launched in Thanh Hoa A corner of Pu Hu nature reserve A scientific project to evaluate and preserve primates in Pu Hu Nature Reserve in the northern central province of Thanh Hoa in 2019-2021 was recently approved. The management board of the reserve area will research the current status and distribution area, gender, living conditions, food and threats to the species. It is set to hold conferences in 53 villages and sign commitments to raise public awareness about rare primate protection. In addition, 11 coordinating projects will be carried out to control hunting rifles in villages close to the reserve. The board is also working to propose preservation measures and printing posters for communication work. The number of rare primates is declining due to hunting and illegal deforestation. The project aims to enhance protection of the animals and prevent hunting activities, contributing to preserving biodiversity. Pu … [Read more...] about Social News 19/7