Businesses advised to increase transparency to prevent corruption

Speaking at a ceremony in Hanoi on April 26 to announce the report Transparency in Corporate Reporting: Assessing the 30 largest companies in Vietnam (TRAC Vietnam 2017), she said when companies are committed to transparency, their accountability will improved, thus creating positive impacts on their staff. 

The internal anti-corruption programme is one of the best protection measures for businesses when facing corruptive and legal risks, she said.

According to the TI report, only seven out of the 30 companies make public commitments to abiding by legal regulations, including the Law on Corruption Prevention and Combat.

Just four among the 30 businesses announced their leaders’ commitments to support anti-corruption efforts.

Vietnam was ranked 113th out of the 176 countries in the TI Corruption Perceptions Index (CPI) in 2016.

At the same time, the TI said a number of Vietnamese businesses gained good points in the transparency of business structure and ownership ratio, with two getting the maximum scores. 

This shows Vietnamese businesses are capable of meeting international standards on transparency, Vien said.