Masan believes in improving the livelihoods of members of the communities where we have operations and partnering with local residents.
In 2020, we contributed nearly VND5,000 billion to the State budget, fulfilling our legal obligation as a private sector leader. In addition to being one of the largest taxpayers in the provinces where we have operations, we have been working directly with local people to promote job creation and improve their quality of life. Simultaneously, we believe in giving back to the communities where we operate through sustainable initiatives that empower people who are experiencing a variety of challenges.
Accompanying the Government and people throughout the country in the fight against COVID-19 pandemic, from the beginning of 2020, Masan Group and its subsidiaries have implemented activities to support the prevention of disease. Masan had so far donated medical equipment, necessities and money worth hundreds of billion Vietnam Dong to support frontline forces.
Masan Consumer presented 4 water purifiers to 4 primary and middle schools in Hau Giang (Phu Huu 3 and Phu Huu 4, Chau Thanh District) and Long An provinces (Thanh Hoa, Ben Luc District) in an amount of VND 500 million, helping teachers and students access clean water.
Our subsidiary located in Ha Son commune, MNS FARM Nghe An, established a scholarship fund for 110 pupils worth VND120 million.
During Government’s “Month of Action for Children”, Masan High- Tech Materials cooperated with the Department of Industry and Trade of Thai Nguyen province to present 20 bicycles to children and teenagers in extremely disadvantaged circumstances.
To that end, we have invested heavily on educational opportunities, construction of housing and infrastructure, vocational training, and mentoring.
Corporate Governance Masan Group is committed to good governance, best-in-class policies and procedures and corporate transparency. In addition to oversight from our major institutional investors and the governance committees prescribed by Vietnam law, such as our Board of Directors, Supervisory Board and Management Board, we have the following committees to ensure higher governance standards:
Corporate Governance Committee - This committee is chaired by an independent member of our Board of Directors, and also includes our Legal Counsel and Group CFO. This committee periodically engages third parties to evaluate its governance practices to identify and monitor the company’s compliance with governance regulations and provide recommendations to improve Masan’s governance practices and policies.
Strategy & Development Committee - This committee is chaired by the Company’s CEO and is comprised of the CEOs and other key executives of our subsidiaries, Group CFO, Group HR head, and Head of Strategy and Development. This committee develops and approves the short and longterm strategy and objectives of the various businesses and the overall Company, including setting key performance indicators and monitoring them. This committee enhances accountability within our company and ensures that the performance of our businesses and people are measured as objectively as possible.
Masan is currently developing a robust Internal Audit function with the assistance of international advisors to further build out its risk management platform.