Government issues business ethics, culture framework

Government issues business ethics, culture framework

The new framework aims to foster ethical business practices, strengthen corporate governance and help Vietnamese enterprises meet international standards as the country deepens global integration.

Employees work at Lefaso Tra Vinh Industrial Production and Investment JSC in Vĩnh Long Province. — VNA/VNS Photo Thanh Hòa

The Government has issued a national framework on business ethics and corporate culture aimed at promoting integrity, sustainable development and international integration across the business community.

The framework, issued under Decision 1157/QĐ-TTg signed by Deputy Prime Minister Phạm Thị Thanh Trà, applies to enterprises across all economic sectors, Vietnamese and foreign entrepreneurs doing business in Việt Nam, professional associations and relevant State agencies.

It covers all aspects of corporate governance, production, business operations, brand communications and partnerships.

The framework aims to foster a business culture rooted in Việt Nam's traditional values while embracing international standards on corporate governance, social responsibility and sustainable development.

It is expected to help build a community of ethical entrepreneurs, protect the rights and interests of employees, consumers and local communities and contribute to a transparent and competitive business environment.

The move is aligned with the Party's Resolution 59-NQ/TW on international integration, which calls for strengthening domestic capacity while adopting international standards to enhance the competitiveness of Vietnamese enterprises and enable them to play a more active role in the global economy.

By 2027, at least 60 of 200 pilot enterprises are expected to adopt codes of conduct or business ethics based on the framework and communicate them to employees at least twice a year.

At least 10,000 entrepreneurs and businesses will also receive training and guidance on applying the framework.

By 2030, the Government aims to have at least 1,000 enterprises implementing the framework and progressively aligning their products and services with international environmental, social and governance standards.

It also targets promoting at least 20 Vietnamese companies with strong national identities at 10 leading international forums and dialogue mechanisms, including the OECD and the UN Global Compact.

The framework is built around six core values: humanity, integrity, transparency, responsibility, innovation and integration, with humanity serving as the central principle.

These values are reflected in six groups of business standards, namely customer- and employee-centred operations, legal compliance and fair competition, transparent governance, social and environmental responsibility, innovation in products and management, and international integration while preserving Việt Nam's cultural identity and business values.

The Government said the framework would provide a foundation for building a modern and sustainable business environment, helping Vietnamese enterprises enhance their competitiveness and strengthen their presence in global markets. 

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