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ESG and Compliance in Vietnam: Key Questions and Answers
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Introduction to ESG in Vietnam
Environmental, Social, and Governance (ESG) factors are becoming increasingly important considerations for businesses in Vietnam. These factors drive global demand, societal impact, and economic value.
Who Needs to Follow ESG Regulations?
- Companies listed on the stock exchange or those with public offerings must follow ESG regulations in Vietnam.
- These companies must consider ESG factors when making decisions and disclose their performance to stakeholders.
Benefits of ESG Compliance
The benefits of ESG compliance include:
- Improved reputation
- Reduced risk
- Increased transparency
- Enhanced stakeholder engagement
Enhancing ESG Best Practices in Vietnam
Enterprises can enhance ESG best practices by:
- Conducting regular sustainability assessments
- Setting science-based targets
- Implementing effective governance structures
Recent Case: Unfair Competition Practices in Myanmar
The Myanmar Competition Commission recently ruled in favor of a Thai manufacturer in a case involving unfair competition practices. The local individual was required to cease production and distribution of cement grout and tile adhesive products with deceptive packaging.
Business Rehabilitation in Thailand
Filing a business rehabilitation petition with the Bankruptcy Court in Thailand provides automatic stay protection for debtors, allowing them to restructure their debts and avoid liquidation.
Precautions for Creditors During Rehabilitation
Creditors should take the following precautions during the rehabilitation process:
- Appoint a local Thai representative to act on their behalf
- Contact and meet with the official receiver and plan preparer
- Investigate or settle any arguments on the debt
Impact of Draft Circular on Securities Market in Vietnam
The Draft Circular will amend several regulations impacting public companies and the securities market in Vietnam. The changes include:
- Relaxing pre-funding requirements for foreign institutional investors
- Specifying responsibilities for securities companies in settling shortfall of securities purchase orders