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Last updated: Tuesday, September 26, 2017

 

Making ABA Awards Inspirational in Vietnam Business Community

Posted: Tuesday, August 29, 2017

Since its inception in 2003, the ASEAN Business Advisory Council (ASEAN BAC) has been actively engaged in promoting the public-private partnership model and consulting integration in the ASEAN Community. The ASEAN Business Awards (ABA), held annually since 2007, aim to honour ASEAN businesses making significant contributions to the overall prosperity of the ASEAN economy.

The ABA Awards is designed not only to honour outstanding companies in the region but also serve as an effective ASEAN Economic Community (AEC) communication channel. Furthermore, joining ABA 2017 will be an opportunity for Vietnamese businesses to promote their image in the region and in the international arena. The award will be presented by ASEAN leaders at the ASEAN Business and Investment Summit (ASEAN BIS) on the sidelines of the 50th ASEAN Summit in the Philippines in September. Registering for ABA 2017 entries are free of charge.

ABA Awards 2017 consists of 12 Sector Awards for outstanding businesses in 12 priority ASEAN integration sectors (agriculture, automotive, aviation, e-commerce, electronics, fisheries, health, logistics, rubber, garment and textile, tourism and wood), SME Excellence Award (based on such criteria as growth, employment, innovation, corporate social responsibility). In addition, ABA Awards 2017 also include awards for young entrepreneurs, women entrepreneurs and foreign entrepreneurs with ASEAN partners.

At the first ABA Awards in 2007, Vietnam had three companies in the final round: Hoa Tho Textile & Garment Joint Stock Corporation, Asia Commercial Bank and Saigon Paper Corporation. In 2008, Vietnam had only one representative, Saigon Morin Hue Hotel which won consolation prize.

In 2010, the ABA Awards were hosted by the Vietnam Chamber of Commerce and Industry (VCCI), which held the chairmanship of ASEAN BAC for the 2009-2010 term. KPMG was the strategic partner of the ABA Awards.

ABA Awards 2010 attracted 65 businesses with 110 candidate applications for innovation, growth, employment and social responsibility.

After the qualifying ground, 23 businesses entered the final round and eight won the awards, including two Vietnamese companies, four Singaporean companies and two Malaysian companies.

Thu Duc Housing Development Corporation and and Southeast Asia Commercial Joint Stock Bank (SeABank) garnered the ASEAN Most Admired Enterprises Awards 2010”. SeABank was the only bank in Vietnam and ASEAN to win this award in the “Innovation” Category.

In 2014, the ASEAN Business Awards’ categories included the ASEAN Centricity, the Corporate Excellence, the Innovation, the SME Excellence, Young Entrepreneurs and Women Leaders. Among six award categories, one was for women entrepreneurs, suggesting that the international community appreciated the important role that women played in economic and social development.

Saigon - Hanoi Commercial Joint Stock Bank (SHB) won the ASEAN Corporate Excellence Award and represented Vietnam and competed with competitors from other ASEAN countries for the ASEAN Centricity Award.

Specially, Ms Nguyen Thi Nga, President of SeABank and President of BRG Group, was decorated two prestigious awards: National Winner - Best Business Women Leader and Most Admired ASEAN Enterprise Women Leader in the ASEAN Business Awards 2014 (ASEAN - ABA 2014).

At the ASEAN Business Awards 2016, hosted by ASEAN BAC in cooperation with Lao National Chamber of Commerce and Industry, Hung Hau Agricultural Corporation was named. Defeating many candidates in the ASEAN region, the company took the highest laurate in the fisheries category because of its outstanding achievements in award criteria of growth, employment, innovation and corporate social responsibility.

To be qualified for the ABA Awards, candidates must have at least 40 per cent of stake held by ASEAN member countries, have offices in ASEAN countries or have transactions with at least two ASEAN countries, and five years of operations, have financial reports for at least three years, and have annual revenue of at least US$20 million.

Meanwhile, SMEs must have at least 40 per cent of stake held by ASEAN member countries, or have transactions with at least two ASEAN countries, have at least three years of operation, have financial statements for at least two years, and have annual revenue of less than US$20 million.

Anh Mai








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