A recent survey of 85 large enterprises in Viet Nam revealed corporate governance is a relatively new concept in the country.
In the poll, conducted by World Bank affiliates, 23 per cent of the respondents said they had a "certain understanding" of corporate governance though most company directors admitted it was yet to be adopted in Viet Nam.
Corporate governance is defined by the OECD, the grouping of rich nations, as "the system by which business corporations are directed and controlled. The corporate governance structure specifies the distribution of rights and responsibilities among different participants."
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