Multi-Stakeholder Forum (MSF) 2023: Unlocking the potential of Vietnam's Business Culture for Sustainability and Competitiveness in Times of Change

Hanoi, October 19, 2023 - Today, Samsung Vietnam, in collaboration with the Vietnam Chamber of Commerce and Industry and the Vietnam General Confederation of Labor, organized the Multistakeholder Forum (MSF) 2023 under the theme: "Unlocking the potential of Vietnam's Business Culture for Sustainability and Competitiveness in Times of Change". MSF 2023 is expected to play a significant role in shaping a dynamic and resilient business culture, promoting sustainable development, and enhancing Vietnam's competitive position amidst the ever-changing global economic landscape.

Mr. Pham Tan Cong, President of the Vietnam Chamber of Commerce and Industry, Mr. Phan Van Anh, Vice President of the Vietnam General Confederation of Labor, and Mr. Choi Joo Ho, President of Samsung Vietnam, participated and delivered opening remarks at the forum.

The event featured expert speakers in fields related to corporate culture development, business strategy consultancy, and management from various industries, both within and outside Vietnam, including representatives from Boeing, Samsung, Bitis, Hanosimex, Alphabook, Gemadept, Creatio, as well as labor unions and international associations focused on sustainability development, responsible business, and labor rights, such as the United Nations Global Compact (UNGC), International Trade Union Confederation (ITUC), amfori, Asia Foundation,  The Sustainable Trade Initiative (IDH), and more. The event gathered over 500 delegates representing government agencies, ministries, non-governmental organizations, social institutions, associations, businesses, research organizations, universities, trade unions, as well as experts, who participated both in-person and online.

Experts in the Plenary discussion session "Vietnam's Business Culture in Times of Change"

Developing a distinctive and sustainable business culture holds significant importance for Vietnam's prosperity. In this global challenging environment, recognizing and leveraging these cultural advantages is pivotal to shaping Vietnam's future as a responsible business community and a newly emerging economy with ambitious growth prospects. This not only affirms distinct cultural imprints and enhances competitive advantages but also integrates global values, including ethical business standards, to promote international collaboration rapidly. This integration allows for the creation of products and services suited for diverse markets, thereby contributing to generating new values in response to contemporary changes.

MSF 2023 will bring together relevant stakeholders to discuss the importance of leveraging Vietnam's distinctive business culture and strategies to maximize these values in a rapidly changing world. The program will include a plenary discussion with the theme "Vietnam's Business Culture in Times of Change" and two parallel discussions: “Good practices on unlocking corporate culture for competitiveness and sustainability” and “The roles of labor unions and workers in fostering business culture for competitiveness and sustainability”.

Experts in the parallel discussion session "Vietnam's Business Culture in Times of Change"

Notably, the forum will introduce a contemporary study on "Vietnam's Business Culture from the stakeholder perspectives and its implications for advancing Competitiveness and Sustainable Development" for the first time. The study received professional comments from industry leaders on the basis of surveying and applying the approaches and results of international research to Vietnam's conditions. The results of the study are expected to provide fresh perspectives to managers and policymakers, enabling them to promote a modern and highly adaptive corporate culture, which is also valuable for enterprises, labor organizations, and employees in achieving business objectives through the enhancement of organizational and corporate culture.

In his opening remarks at the forum, Mr. Pham Tan Cong, President of the Vietnam Chamber of Commerce and Industry, expressed: "The important role and position of businesses and entrepreneurs in the society are being affirmed as an important condition for Vietnam business culture to gradually be awakened and promoted. Business culture is undergoing certain changes, and moving towards sustainable development and promoting responsible businesses. It requires businesses to promptly grasp, adjust and adapt, become trusted partners who promote creativity, innovation, and cooperative willingness."

Sharing his perspective at the forum, Mr. Phan Van Anh, Vice President of the Vietnam General Confederation of Labor, emphasized: "The Vietnam General Confederation of Labor evaluates this as a very practical topic, consistent with the trend and context of Vietnam's increasingly deep integration with the world in all fields, meeting expectations of all agencies, partners, businesses, workers and trade unions. If this is well implemented, it will help build the image, and strongly improve the competitiveness and sustainable development of the Vietnamese business community, thereby making an important contribution to improving Vietnam's capacity and position in the international arena, realizing the aspiration of developing a prosperous and happy country. Business culture plays a great important role to the development of a country. Business culture not only brings benefits to businesses but also helps state management agencies in regulating the behavior of business-related stakeholders in areas where legal gaps still exist. Business culture also helps people form a healthy consumption culture and participate responsibly in economic relations with businesses and the state."

Speaking at the event, Mr. Choi Joo Ho, President of Samsung Vietnam, shared insights about the efforts in building a people-centric corporate culture: “In recent years, the Multi-Stakeholder Forum has become a platform for exchanging knowledge, sharing experiences, learning, and promoting constructive dialogues and a common vision among stakeholders for the sustainable development of Vietnam. In the future, we are committed to nurturing these collaborative efforts for the co-prosperity.”

Mr. Choi Joo Ho, President of Samsung Vietnam

Samsung Vietnam, as a member of the Responsible Business Alliance (RBA), is strongly committed to protecting and respecting the labor rights of our employees and those in our partner companies. Samsung's core values ​​such as "People", "Excellence", "Change", "Integrity" and "Co-Prosperity" are instilled at all levels of our management and employees. Organizational health is periodically assessed through the Samsung Culture Index, with the participation of all levels of management and employees. This helps us identify the strengths and weaknesses in our organizational culture, optimize our strengths, and proactively address the challenges that exist in our corporate culture. We are tirelessly striving to provide our employees with the best and safe working environment, for the general prosperity of the community.”

The Multi-Stakeholder Forum (MSF) is an initiative by Samsung Vietnam, organized annually since 2018. Through the Forum, the co-organizers hope to work together with government agencies, trade unions, social institutions, businesses and interested individuals to promote meaningful discussions and actions, for the sustainable development and prosperity of Vietnam.


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