The year 2025 marks a pivotal milestone for Vietnam’s stock market, as the market continues its journey to enhance quality and governance standards under Decision No. 2014/QĐ-TTg, which approves the Project on Upgrading Vietnam’s Stock Market - aiming to meet the criteria set by FTSE Russell for Emerging Market status. This market upgrade, in synergy with Resolution No. 68 of the Party on developing the private economic sector, is expected to generate a new wave of high - quality “assets” and attract an estimated USD 3 - 6 billion in new investment inflows over the next three years. These capital flows will prioritize companies that demonstrate strong commitment and leadership in adopting international and OECD-aligned Corporate Governance (CG) practices.
Across the region, the ASEAN Corporate Governance Scorecard (ACGS) serves as a strategic benchmark for assessing governance quality. Findings from the 2024 assessment reveal that Vietnam’s overall corporate governance practices still lag significantly behind regional peers. This reality underscores an urgent imperative: upgrading the governance operating system must become a top strategic priority. Proactively closing this gap will not only help attract sustainable international investment but also lay a solid foundation for Vietnam’s capital market to achieve long-term, resilient growth and realize its aspiration to rise to regional standards.
Building on this momentum, the Annual Forum on Corporate Governance (AF) - organized annually by the Vietnam Institute of Directors (VIOD) since 2018 - has become Vietnam’s leading platform for promoting corporate governance excellence. Co-organized with the International Finance Corporation (IFC) and the Swiss State Secretariat for Economic Affairs (SECO), in collaboration with the State Securities Commission (SSC) and with the support of the Vietnam Stock Exchange (VNX) and both stock exchanges (HNX and HOSE), the Forum brings together influential voices shaping the governance landscape of Vietnam’s capital market. The year 2025 marks the 8th Annual Forum on Corporate Governance (AF8).
As a seasoned technical partner with extensive experience in Corporate Governance assessments for both the Vietnam Listed Company Awards (VLCA) and the ACGS, the Vietnam Institute of Directors (VIOD) has a deep understanding of the demands of this new era. VIOD continues to drive key initiatives to support Vietnamese enterprises on their journey toward regional excellence.
This year’s Forum, themed “Breakthrough Boards: Beyond Governance - Positioning Trust and Elevating Reputation in the Capital Market,” focuses on the latest updates to the OECD Corporate Governance Principles and the corporate action agendas aligned with international best practices. When the Board of Directors—the highest leadership body representing shareholders and investors - embraces breakthrough thinking, it can drive transformative changes in building effective and sustainable governance strategies that elevate both enterprise value and market reputation.
AF8 is expected to gather approximately 350 - 380 senior leaders, including Chairpersons, Board Members, CEOs, and Executive Committee Members from more than 250 leading listed companies, public firms, and large private enterprises in Vietnam. The Forum will also welcome representatives from financial institutions, market advisors (including the Big Four auditing firms and securities companies), and both domestic and international investment funds. It serves as a platform for business leaders to jointly declare and commit to upgrading their Corporate Governance operating systems - moving beyond a compliance mindset to position “Trust” and “Reputation” as strategic assets in the capital market.
The morning session will feature addresses by leaders from the State Securities Commission and Ho Chi Minh City, alongside insights from senior experts from the OECD and VinaCapital on Vietnam’s 2025 - 2026 macroeconomic outlook and its implications for the capital market. In the afternoon, under the theme “Positioning the Value of Trust,” experts from MSCI will deliver an in-depth session on ESG Ratings and Climate Risk Governance, offering practical perspectives on integrating ESG and climate resilience into corporate governance and investor relations strategies.
A key highlight of AF8 is the initiative “ACGS - ASEAN Aspiration,” featuring 20 pioneering companies committed to improving their Corporate Governance quality and ASEAN Corporate Governance Scorecard ratings toward achieving ASEAN Asset Class recognition. This initiative demonstrates Vietnam’s collective ambition to elevate governance quality and align with regional excellence standards.
In addition, AF8 will honor the 2025 VNCG50 companies and celebrate the Top 10 Boards of the Year, recognizing exemplary leadership and encouraging stronger governance breakthroughs in the 2026–2030 period. The judging panel for these awards includes representatives from the SSC, VNX, HNX, HOSE, VinaCapital, and independent expert Mr. Phan Duc Hieu - ensuring the credibility and professionalism of the selection process.