(VOVworld)-Corporate culture is an intangible value, helping to create a business’ strength. As Vietnam integrates further with the global economy, building corporate culture has become urgent than ever to ensure the success of domestic businesses.

Corporate culture is reflected not only in communications, contacts and behaviors within a business or between a business and its partners but also in business strategy with respect to the law, healthy competition and efforts to maintain business ethics. Tran Thi Thu Hang, General Director of the Vietnam Farm Produce and Food Import-Export Corporation said that corporate culture is of paramount importance and should present an enterprise’s professional, dynamic and creative working environment and behavior towards clients. Ms. Hang added that top priority should be given to maintaining reliability and reputation: “Food production and processing companies should focus more on clarifying the origins of their products rather than attempting to gain profits. Good quality products will help increase sales and subsequent profits.”

Prime Minister Nguyen Xuan Phuc addresses the ceremony on November 7 to launch the movement to build Vietnam’s corporate culture

Vietnam’s participation in free trade agreements and global economic integration requires domestic businesses to build corporate culture for their own sustainable growth and for the sake of the Vietnamese economy.

“Good corporate culture will help distinguish a business from others and give it a better chance to succeed. Vietnam’s corporate culture should match international standards but also retain traditional values”, said Tran Trong Toan, Vice President of the Vietnam Association for the Development of Corporate Culture.

The Government has decided to observe November 11 as “Day for Vietnam’s Corporate Culture” and launched a movement to develop the idea. Director of Vietnam’s Enterprise Renewal and Development Board, Phan Dang Tuat explains: “Enterprises must meet certain criteria to win the title ‘Corporate Culture’. However, they will certainty be disqualified if their work proved to be detrimental to the community.”

By 2020, the number of businesses in Vietnam is expected to double, reaching one million.