The Viet Nam Association of Financial Executives was formed in HCM City on November 4. — VNS Photo Xuan Huong

HCM CITY — The Viet Nam Association of Financial Executives was formed yesterday in HCM City to create a forum for financial executives.

Phạm Thị Thanh Nga, chairwoman of the financial information services provider Vietstock, is its chairwoman.

Speaking at the ceremony, Dang Quyet Tien, deputy general director of the Ministry of Finance's corporate finance department, said financial management played an important role in the success of the economy and businesses.  

However, financial management is still quite young and does not receive proper attention in Việt Nam, he said.

The establishment of the association is expected to improve things, he said.

At the event yesterday AAA (An Phat Plastic and Green Environment Joint Stock
Company), DPM (PetroVietnam Fertiliser and Chemical Corporation), FPT, KDH (Khang Dien Investment and Trading House JSC), and VNM (Vietnam Dairy Products JCS) were honoured with the top five IR awards for having the best investor relations after being voted for by investors and financial institutions.

Nga said the annual awards, instituted by Vietstock in 2011, sought to raise awareness among listed companies of complying with disclosure requirements and relations with investors, especially shareholders, to develop an open, transparent and effective stock market.

For the first time this year the awards were given in collaboration with the VAFE, she said.

Listed companies had been better at complying with information disclosure requirements, she said.

A survey by Vietstock found that 18 per cent of companies listed on the HCM City and Hanoi exchanges have fully complied with disclosure requirements this year compared to 10 per cent last year and 4 per cent in 2014, she added. — VNS