Business Integrity Toolkit for Investors and Startups Launched

10:48:33 AM | 8/7/2020

The Business Integrity Toolkit for Investors and Startups helps investors to pick up enterprises to invest in and shares business integrity conditions to appraise investment projects for startups.

At the toolkit launching ceremony organized recently by the Business Forum Magazine in Ho Chi Minh City, Mr. Vo Tan Thanh, Vice President of the Vietnam Chamber of Commerce and Industry (VCCI), highly appreciated the supportive cooperation of the United Nations Development Program (UNDP) Vietnam with VCCI to create a ripple effect of business integrity in the startup community.

The toolkit is designed for all active investors or those seeking to invest in startups and SMEs established in Vietnam. The toolkit is also a reliable reference for foreign investors who are not familiar with the business environment in Vietnam. Incubators, startup acceleration centers, startup support agencies that are training and preparing for startups to call for fund also need to refer and use this toolkit.

Ms. Nguyen Phi Van, President of the Vietnam Angel Investors Association, Innovation Advisor for Project 844 (Ministry of Science and Technology), Vice Chair of the Advisory Council for Innovations and Startups - author of the toolkit, emphasized, “For investors, one of the prerequisites for equity investment is business integrity, because only it can create transparency for partners, shareholders, investors and customers, paving the way for sustainable development.”

There are three key platforms to assess the degree of business integrity: Personal ethics, management system quality, and law knowledge and compliance.

Mr. Sam Wood, Deputy Consul General cum Head of Trade & Investment, British Consulate General Ho Chi Minh City, said Vietnam’s thriving startup scene continues to grow strongly. The estimated number of startups in Vietnam is almost 3,000, making the country the third largest startup ecosystem in Southeast Asia. New companies, including startups, have to deal with a significant amount of red tape when they want to run their business. I hope that the Business Integrity Toolkit will help new businesses to assess, understand and take action on business integrity.

The Business Integrity Toolkit Investors and Startups is an important part of a series of integrity-related activities in project “Enhancing a fair business environment for new businesses in Vietnam” funded by the UK Prosperity Fund. The project is developed by the Business Forum Magazine in collaboration with UNDP Vietnam.

Source: Vietnam Business Forum