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In the era of global integration,danh de online Vietnamese businesses have encountered unprecedented challenges and opportunities. To capitalise on these opportunities and minimise risks, particularly in light of Viet Nam's strong commitment to sustainable development at COP26, it is essential to develop a robust governance system and train visionary leaders. Senior leaders are instrumental in transforming business transformation and achieving sustainability.

SID-VIETSTAR International Board of Directors Programme (IBOD) Cohort 3 concluded in Singapore on August 23, 2024.

Understanding that situation, VIETSTAR (Vietnam) co-operates strategically with the Singapore Institute of Directors - SID to develop the International Board of Directors Programme (IBOD).

This specialised programme is tailored for senior leaders according to Singapore Corporate Governance Best Practices. IBOD has swiftly established itself as one of Việt Nam's leading advanced training programmes in Corporate Governance.

Since establishing the partnership in 2022, the programme has brought together over 20 distinguished speakers, including senior leaders such as Chairmen, CEOs, C-suite executives, and advisors from Singapore.

Notable participants include: Mr. John Lim - Past Chair of SID, Former Chair of OECD Asian Corporate Governance Network for State Owned Enterprises, Mr. Shai Ganu - Member of the global governing board of Climate Governance Initiative and the World Economic Forum’s Climate Governance, Ms. Wong Su-Yen - Former chairperson of the Singapore Institute of Directors, Member at First Resources, CSE Global, and IMDA, Mr Mr Hnn-Hui Hii - Managing Partner of Heidrick & Struggles' Industrial Practice, Asia Pacific and Mr. Wilson Chew - Managing partner of J.P. Wilson - Former Partner (Strategy), PwC Singapore.

Elevating Sustainable Corporate Governance

In the world of increasing environmental consciousness and competitiveness, sustainable governance has emerged not only as a trend, but also as a guiding compass for businesses navigating through turbulent times. Mr. Colin Low is a global independent director of AET Tankers - one of the speakers at the programme who highlighted the vital role of the Board of Directors in risk mitigation and safeguarding corporate interests, as well as in fostering sustainable development. To accomplish this, the Board must develop a transparent ESG reporting framework and cultivate a collaborative work environment where every member contributes toward a shared objective.

Vietnamese energy executives receive IBOD certification from SID - VIETSAR.

Building a Solid Governance Foundation

The Board of Directors is the soul of the enterprise. Mr. Joe Keen Poon - President of WEY Technology, emphasised that vision and strategic objectives are crucial for steering the business. In particular, he introduced the Singapore Governance Code as a "sharp tool" to help the Board of Directors make wise decisions and ensure transparent and effective operations.

Board of Directors and CEO: Building, Implementing, and Monitoring Effective Strategies

According to Mr. David Wikins - Founder of Bamboo Code and author of the renowned book “Leadership Pure and Simple: How Transformative Leaders Create Winning Organisations”, effectively accelerating business growth requires a collaborative effort between the Board of Directors and the Executive Management, from the strategic planning to implementation. The key issue is the balance of power between the Chairman of the Board and the CEO, and more broadly, between the Board and the Executive Management. Transparency in the roles and responsibilities of each party can help minimise conflicts and enable all members to share openly and honestly, without overstepping their boundaries, in the pursuit of the company's best interests.

SID – VIETSTAR: The 2025 Journey

On August 23, 2024, the 3rd International Board of Directors Programme concluded successfully. It equipped leaders with the latest governance insights, enabling them to apply best practices in governance and to tackle the challenges of the modern era.

Mr. Terence Quek, CEO of the Singapore Institute of Directors (SID) stated, “Over the next year, alongside the ongoing International Board of Directors Programme, SID and VIETSTAR will collaborate to launch the Advanced Board of Directors Programme. This new initiative is designed for experienced leaders in roles such as Chairman, CEO, and C-suite executives, and will leverage governance models and best practices from ASEAN."

“VIETSTAR established a partnership with SID in 2022. Over the past two years, we have trained over 70 Chairpersons, CEOs, and senior leaders in Singapore for leading Vietnamese organizations such as the Vietnam Oil and Gas Group (PVN), Binh Son Refining and Petrochemical Company (BSR), Ca Mau Petroleum Fertilizer Joint Stock Company (PVCFC), EVN Generation Corporation 2 (GENCO2), and Southern Power Corporation (EVNSPC) on Corporate Governance and Board of Directors Best Practices. In addition to training, we will set up bilateral forums and conferences in Vietnam and Singapore to expand the network of sustainable ASEAN leaders. This will be a crucial step for Vietnamese businesses to integrate deeply into the global economy and achieve success in Corporate Governance in the era of sustainability.” Ms. Pham Thi Thu Hang, CEO of VIETSTAR, emphasised when the two parties established a common vision for 2025.