CSR should be part of development strategies

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SaigonTimes English - 34 month(s) ago 18 readings

CSR should be part of development strategies

HCMC – Corporate social responsibility (CSR) has increasingly caught attention of local enterprises who agree that this voluntary activity should be also treated as part of corporate development strategies, according to a seminar last Friday.

By Dinh Dung - The Saigon Times Daily

Speakers and guests discuss ‘corporate social responsibility’ held at the White Palace Convention Center in HCMC last Friday - Photo: Kinh Luan
HCMC – Corporate social responsibility (CSR) has increasingly caught attention of local enterprises who agree that this voluntary activity should be also treated as part of corporate development strategies, according to a seminar last Friday.

CSR activities have become popular among the local business community and have been continuously growing, said Pham Phu Ngoc Trai, chairman of Global Integration Business Consultants (GIBC), at the seminar co-organized by the Saigon Times Foundation (STF) under the Saigon Times Group and GIBC to mark STF’s tenth anniversary.

In many nations, the public has increasingly showed keen interest in responsibilities, duties and transparency of big brands. Recent studies indicated the reputation, business activities and social commitments of producers are decisive factors affecting consumer behaviors.

“CSR is not only a voluntary activity but also an indispensable part to business strategies for the sustainability of a company,” said Trai, who also serves as chair of STF Sponsorship Council.

Such thinking has been seen in local firms, with ‘Den Dom Dom’ by Dutch Lady, ‘Six Million Milk Glasses for Vietnamese Children’ by Vinamilk and VinaCapital’s sponsorship for poor children’s heart surgeries.

According to chief executive officer and co-founder Don Lam of VinaCapital, his company annually sets aside VND20-22 billion for health care and education support for poor children. The fund encourages its corporate investors to join social activities as well, he reckoned.

For the community’s benefits, STF has actively supported local firms in realizing their social responsibilities via scholarship programs for needy students besides other programs. As of late last year, the non-profit organization financed students nationwide with about VND2.5 billion contributed from enterprises.

Most participants in the seminar shared the view that CSR considerably supported companies in establishing deep-rooted relationships with the society, thus promoting their brands and helping them attract human resources easily.

Ngo Thi Hong Thu, deputy general director of wood processor Truong Thanh Furniture Corporation supposed that enterprises consider CSR their long-term investment. This means they need to pursue CSR activities as part of their own strategies and management rules, she added.

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