ANNUAL REPORT 2024
TOGETHER IN BELIEF, LEADING IN INNOVATION
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Report of The Board of Directors Activities of the board of directors in 2024 In 2024, the Board of Directors (BOD) continued to fulfill the pivotal role in providing guidance, strategic direction, management, and oversight to ensure that the Company's operations adhered to legal regulations, the resolutions of the GMS, the provisions outlined in the Company's Charter, and the best practices of corporate governance. In particular, the BOD did:
Regularly reviewed and approved transactions with related parties in accordance with legal regulations and Article 40 of the Company's Charter.
Provided oversight of governance practices, compliance with legal regulations, and risk management policies, as well as the implementation of resolutions approved by the GMS and the BOD; Evaluated the implementation of these resolutions. Assigned and clearly defined the roles as well as responsibilities of each member of the BOD, ensured the frequency and regularity of BOD meetings, and upheld the legality and enforceability of resolutions and meeting minutes.
Adhered to the regulations governing roles, functions, duties, and authorities of the BOD as stipulated in the Law on Enterprises, the Law on Securities, other relevant legal provisions, and the implementation guidelines issued by government authorities. Furthermore, the BOD adopted corporate governance principles based on best practices while ensuring compliance with Vietnamese laws and the ASEAN Corporate Governance Scorecard outlined by the ASEAN Capital Markets Forum (ACMF). Based on the findings from annual reviews and evaluations conducted in accordance with the ASEAN Corporate Governance Scorecard, the BOD has continuously developed action plans to enhance the Company’s governance framework.
Provided strategic guidance and issued resolutions to steer the Company’s production and business activities, ensuring alignment with market dynamics and the Company’s internal conditions. These efforts aimed to achieve the balance between growth objectives, risk management, and the sustainable interests of the Company, its shareholders, and other stakeholders. Reaffirming the Company’s commitment to accompany the Government in achieving the goal of Net Zero by 2050, the BOD and the BOM formulated a comprehensive ESG strategy, supported by detailed action plans seamlessly embedded within the Company’s core business operations.
Provided instructions on matters related to human resources and compensation based on the opinions and recommendations provided by the Human Resources and Compensation Subcommittee. These instructions served as a framework for the BOM to execute human resource and compensation plans in 2024.
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