FPT recognized among Top 50 listed enterprises for outstanding corporate governance

FPT has recently been celebrated for earning a spot among the "Top 50 Listed Enterprises with Best Corporate Governance Practices" (VNCG50) at the annual Corporate Governance Forum in Vietnam.

Representing FPT Corporation, Ms. Mai Thi Lan Anh, Chief Communications Officer (standing 6th from right)

The Corporate Governance Forum, hailed as Vietnam’s premier professional event in this field, emphasizes the integration of ESG standards with a focus on sustainable development.

The initiative to recognize 50 pioneering listed enterprises for their commitment to enhancing corporate governance in Vietnam was first introduced at the Forum, with the selection process conducted by a panel of experts, including specialists from stock exchanges, representatives of investment funds, securities companies, and independent advisors.

Over the years, FPT has consistently adhered to all essential legal provisions about corporate governance, both in a general context and in adherence to regulations specific to listed companies. Concurrently, in an endeavor to elevate compliance with legal regulations on corporate governance, the Corporation has dedicated efforts to enhance the quality of governance in line with international standards. This commitment is demonstrated through the application and increasingly stringent adherence to standards outlined in the OECD's International Governance Principles, the ASEAN Corporate Governance Scorecard, and the Vietnam Best Practice Corporate Governance Principles, the latter being published by the State Securities Commission in collaboration with the International Finance Corporation (IFC).

Leveraging its technological expertise, FPT has developed a sophisticated, data-driven management system, empowering its leadership to make swift, informed decisions based on real-time data. This system reduces decision-making timelines from weeks to days and ensures early dissemination of critical information.

Centralized data management is FPT's " backbone " to optimize its management and operations, enhance operational efficiency, and foster sustainable growth. Hence, the Corporation maintains its focus on advancing internal digital transformation to enhance management efficiency, optimize operational productivity, and maximize efficiency through widespread replication of successful digital transformation initiatives on a global scale. This involves leveraging technology to streamline professional management activities across various vertical functions, including Finance, Human Resources, Technology, Quality, Marketing & Communications. In 2023, 42 internal digital transformation projects facilitated savings of 617 billion VND.

The majority of administrative and operational tasks at FPT have transitioned to a paperless business model, leveraging digital solutions such as online job assignments, electronic invoicing, online purchasing management, and online payment processing. Additionally, work outcomes and other internal requests are evaluated online. Notably, FPT has seen significant progress in digital transactions, with over 100,000 electronic contracts expected to be executed in 2023. This accounts for approximately 39% of the total signed contracts, reflecting a 6.6% increase compared to 2022.
As per expert evaluations, enterprises with effective governance not only enjoy superior valuation, denoted by a heightened P/B ratio, but also attract the interest of investors, thereby amplifying opportunities to secure long-term capital from the market. Simultaneously, adept corporate governance establishes a comprehensive framework and mechanism, offering enhanced protection for the interests of both investors and stakeholders. This, in turn, contributes to ensuring sustainable development and bolstering the resilience of businesses.

FPT’s inclusion in the VNCG50 underscores its unwavering commitment to building a transparent and professional governance system. This accolade not only solidifies FPT’s competitive edge in Vietnam but also enhances its stature on the global stage.