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On the morning of December 5, 2024, the Vietnam Institute of Directors (VIOD) held the ceremony to honor the TOP50 Pioneering Enterprises and Commitment to Improving Corporate Governance in Vietnam – VNCG50. Thanh Cong Textile Garment Investment and Trading JSC (Stock code: TCM) is honored to be one of the TOP50 listed enterprises in Vietnam with good corporate governance scores based on Vietnamese Laws as well as Best practices accordance with ACGS (Asian Corporate governance Scorecard) and received the certificate from VIOD.

In the ESG criteria, corporate governance (G) has become a measure of a company’s competitiveness in creating trust in the market, and is also a tool to evaluate the actions and commitments of a company to create impacts on environmental (E) and social (S) factors.

Corporate governance is an important foundation to help enhance transparency and accountability of businesses when implementing sustainable development strategies. In addition, corporate governance is a very important factor to attract capital into the market and businesses, while helping businesses optimize operational efficiency, effectively manage risks and build reputation with investors, especially international organizations.

VNCG50 aims to help Vietnamese listed enterprises improve their corporate governance practices in line with the stock market development strategy to 2030, narrowing the gap in corporate governance practices between Vietnam and Southeast Asia, thereby improving the quality of goods on the market, increasing transparency and attracting investors.

At Thanh Cong Textile Garment Investment Trading JSC, in addition to strictly complying with and fully implementing regulations on transparency and corporate governance as prescribed, the Company always aims to do better not only for businesses and investors but also for credit rating organizations, credit institutions, and banks in the process of evaluating businesses as well as increasing trust in shareholders and the domestic and foreign investor community, helping businesses improve both aspects of ‘soft’ competitiveness in corporate governance as well as ‘hard’ competitiveness in product quality, service quality, and interaction of products and services in the market compared to domestic and foreign competitors. The Company always believes that investing in corporate governance is an important strategy, an indispensable part of the sustainable development journey of the business. Therefore, the Company has gradually improved and realized its strategies in corporate governance and sustainable development activities (ESG) in order to integrate more deeply into the global market and economy.

Investing in corporate governance is an optimal strategy to attract responsible investors, aiming to promote the Vietnamese financial and securities market to become more transparent and attractive to domestic and foreign investors, especially in the context that the Vietnamese stock market is likely to be upgraded in 2025 as well as the requirements for improving the quality and level of corporate governance for Vietnam need to be truly considered as an important strategic goal and need to be given top priority. This has also been clearly stated in the stock market development strategy to 2030 approved by the Prime Minister in Decision No. 1726/QD-TTg dated December 29, 2023.

50 pioneering enterprises committed to ensuring good corporate governance practices. VNCG50 is evaluated by a Council chaired by VNX, including members who are experts from the Ho Chi Minh City Stock Exchange (HoSE), Hanoi Stock Exchange (HNX), fund representatives, securities companies and independent experts.