Mar. 27 – The Vietnamese stock market is currently suffering from the poor performance of listed companies and poor confidence among investors. As part of an effort to improve communication of corporate data and information to investors, the Fourth Annual Report Contest for listed companies will be held for companies listed on Vietnam’s two exchanges in Ho Chi Minh City and Hanoi.
The contest, in coordination with Dau Tu Chung Khoan (Securities Investment) Magazine and Dragon Capital fund management, plans to reward the 50 best financial reports among those submitted by the more than 700 firms listed in the two stock exchanges.
The contest focuses on improving information transparency in the areas of cash flow, corporate governance, financial investment and reserves for risks.
The contest also aims to stimulate the biggest players in the Vietnamese market to look for, import and adapt to the best practices generally accepted overseas. Contest participants are required to comply with the criteria concerning public information in the Ministry of Finance’s Circular No 09/2010/TT-BTC, but are encouraged to follow accepted international standards.
Participating companies should enter their financial reports into the contest by late April, with the winners declared in July.
Dezan Shira & Associates is boutique professional services firm providing foreign direct investment business advisory, tax, accounting, payroll and due diligence services for multinational clients in Vietnam. To contact the firm, please email vietnam@dezshira.com, visit www.dezshira.com, or download the firm’s brochure here.
