Viet Nam Business Integrity Index makes debut

The index, introduced by the Viet Nam Chamber of Commerce and Industry (VCCI) and UNDP Viet Nam, has been designed for enterprises of all sizes, forms of ownership, sectors, and structures, regardless of whether they are a listed company, a domestic private company, a foreign invested firm, or a State-owned one.

The index is built on the basis of seven elements needed for an integrity-based business, including culture (commitment from leadership, management, employees and training); code of conduct, control, communication and conduct (employees and gender equality/inclusiveness, community, society, environment and sustainable development); compliance and certification.

It was set up with support from FairBiz, a UNDP regional initiative funded by the British Government within the framework of the ASEAN Economic Reform Program, which aims at promoting a fair business environment in Indonesia, Malaysia, Myanmar, Philippines, Thailand, and Viet Nam.

Speaking at the event, Deputy British Ambassador Marcus Winsley said that the UK is ready to help Viet Nam implement its commitments to create a fair business climate, effectively reform the economy, and make progress in many other fields, including climate change response, education, healthcare, and reform.

Viet Nam is one of the few countries with a higher position in the Corruption Perceptions Index released by Transparency International, jumping 26 places to 87th in 2021 from 113th in 2017.

It is also an exception among ASEAN countries having moved up to the 88th position in the World Justice Project Rule of Law Index last year.