Exploiting the power of business culture, aiming for sustainability and competitiveness in the new era

On the afternoon of October 19, Samsung Vietnam, in coordination with the Vietnam Federation of Commerce and Industry (VCCI) and the Vietnam General Confederation of Labor, organized the Multilateral Forum (MSF) 2023 with the theme "Exploiting the strength of Vietnam's business culture towards sustainability and competitiveness in the new era".

Khai thác sức mạnh văn hóa kinh doanh, hướng tới bền vững và cạnh tranh trong thời kỳ mới

Delegates discuss at the discussion session of the Forum. (Source: Organizing Committee)

MSF 2023 is expected to contribute an important voice in shaping a dynamic and resilient business culture, promoting sustainable development and improving Vietnam's competitive position in the context of constant strong fluctuations of the global economy.

The event attracted more than 500 delegates, representing government agencies, ministries, sectors, non-governmental organizations, social organizations, associations, businesses, research institutes, universities, trade unions... In particular, the event had the participation of speakers who are leading experts in corporate culture development, business development strategy consulting and business administration, CEOs from large enterprises in different industries in and outside Vietnam such as Samsung, Boeing, Biti's, Hanosimex, Alphabook, Gemadept, Creatio; international trade unions and associations on sustainable development, sustainable trade, responsible business and workers' rights such as the United Nations Global Compact (UNGC), the International Trade Union Confederation (ITUC), the Asia Foundation, the Sustainable Trade Initiative (IDH)...

Developing a sustainable business culture with a distinctive identity that enhances competitiveness is crucial to Vietnam’s prosperity. In particular, in the context of a complex and volatile global situation, recognizing and promoting cultural advantages plays a pivotal role in shaping Vietnam’s future as a responsible business community and an emerging economy with aspirations to grow even stronger in the future.

Not only affirming distinct cultural marks and promoting competitive advantages, the Vietnamese business community and workers also need to integrate global values, including business ethics standards, and promote global cooperation more quickly. This integration will help create products and services suitable for many different markets, thereby contributing to promoting the creation of new values and high adaptation to the fluctuations of the times.

Speaking at the Forum, Mr. Pham Tan Cong, Chairman of VCCI, said that the important role and position of enterprises and entrepreneurs in society are increasingly affirmed, which is an important condition for Vietnamese business culture to be gradually aroused and promoted. Business culture is undergoing certain changes, towards sustainable development and responsible business, requiring enterprises to promptly grasp to adjust and adapt, thereby becoming reliable partners, promoting creativity, innovation, and readiness to cooperate.

Mr. Phan Van Anh, Vice President of the Vietnam General Confederation of Labor, emphasized: "The importance of business culture for the development of a country is extremely great. Business culture not only brings benefits to businesses but also helps state management agencies in regulating the behavior of business entities in areas where there are gaps in the law. Business culture also helps people form a healthy consumer culture and participate responsibly in economic relations with businesses and the state.

Workers are an important subject in business culture in general and organizational culture in particular. Therefore, as an organization representing and protecting workers in Vietnam, the Vietnam General Confederation of Labor always strives and is ready to cooperate with all relevant parties to discuss and identify issues that need improvement, and propose effective and appropriate solutions to promote Vietnamese business culture in a competitive and sustainable direction."

Mr. Choi Joo Ho, General Director of Samsung Vietnam shared at the Forum. (Source: Organizing Committee)

Mr. Choi Joo Ho, General Director of Samsung Vietnam, shared about the efforts to build a corporate culture that focuses on people: "As a member of the Responsible Business Alliance (RBA), Samsung Vietnam always prioritizes protecting and respecting labor rights for both Samsung employees and workers at our partner companies.

Samsung's core values of 'People', 'Achieving Excellence', 'Change', 'Integrity' and 'Co-Prosperity' are instilled in all levels of Samsung management and employees. Organizational quality is periodically assessed through the Samsung Culture Index, with the participation of all levels of management and employees.

This process helps us identify the strengths and weaknesses in our organizational culture, optimize our strengths, and actively address challenges that exist in our corporate culture. Samsung is constantly striving to ensure that employees and workers can work in a safe and best working environment, contributing to the common prosperity of society."

The 2023 Multilateral Forum includes a plenary discussion session with the theme: “Vietnamese business culture in the new era”, along with two parallel discussion sessions: “Good practices in exploiting the potential of corporate culture for competitiveness and sustainability”, and “The role and contribution of employees in building a sustainable and competitive business culture”.

In particular, at the Forum, for the first time, a contemporary study on “Identifying Vietnamese Business Culture and Implications for Sustainable Development and Competitiveness” was introduced. The study received professional comments from leading experts on the basis of surveying and applying approaches and results of international studies to the conditions of Vietnam.

The results of the study are expected to not only provide new perspectives for managers and planners in promoting a distinctive, modern, and highly adaptive business culture, but also be useful for businesses, trade unions, and employees in the practice of managing business goals through improving organizational culture and corporate culture.

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

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