Bank chair unhappy with small shareholders: Madam Hà Thu Thanh highlights a mistake that costs firms credibility with foreign funds

April marks the season of annual general meetings (AGMs) of joint-stock companies in Vietnam. For years, many still viewed this as a dry administrative duty to be completed to satisfy legal requirements. Yet the flow of global financial markets is creating unprecedented pressure and opportunity for change. The FTSE’s official announcement to upgrade Vietnam’s market to Emerging status from September 21 sends a message: the global financial industry is watching us more closely. AGMs are no longer just about reporting what happened in the past; they are the most visual gateway for international investment funds to assess governance capacity and commitments to sustainable development. Speaking with us, Madam Hà Thu Thanh — Chair of the Viet Nam Institute of Board Members (VIOD) — outlined the criteria for an ‘elite’ AGM and sent a message about a shift in mindset: turn AGMs into a New Year full of experience, where trust is renewed so that everyone shares a common direction. [Images and narrative excerpts about the AGM culture and experiences follow, illustrating how shareholders—large and small—engage, the importance of direct Q&A, and the role of the chair and board in listening and responding to questions. The piece emphasizes that attendance, preparedness, and governance quality at AGMs are key signals to foreign investors and market participants.] A bank AGM anecdote is shared: a journalist attended by purchasing a small stake to participate. When she raised her hand, the chair questioned whether her voice mattered given her shareholding. The journalist asserted that ownership grants a voice and asked a pointed question about ineffective investments; the chair responded that they would provide a written answer, but the journalist insisted on direct response. The exchange ended with the chair answering the question in the meeting, and other shareholders applauding. This anecdote underscores that all shareholders deserve respectful, direct engagement. The piece argues that culture matters in AGMs: a healthy AGM culture treats every shareholder as a owner with a legitimate voice, regardless of stake size. It emphasizes timely, complete, and transparent pre-, during-, and post-meeting materials and the need for governance to be open to scrutiny. A well-run AGM is not merely administrative—it is a platform that reflects the company’s strategic clarity, accountability, sustainability commitments (ESG), and the governance quality that investors increasingly prize. Four criteria define a high-quality AGM: 1) The content and quality of the meeting—board clarity on the company’s strategy, vision, and future plans beyond past performance and next year’s business outlook. 2) Accountability and capability of the board. 3) Commitment to sustainability and responsible governance. 4) Organization quality that makes the AGM a meaningful, experience-rich event rather than a box-ticking exercise. The article argues that investors now view AGM quality as a direct signal of management quality and corporate governance, especially as Vietnam’s market status evolves. The AGM season (April–June) is a golden window for companies to demonstrate core values and governance practices that appeal to international funds. In this context, well-organized, transparent AGMs can immediately bolster a company’s standing with investors who see the AGM as the most comprehensive, visual window into a firm’s internal strength. As FTSE’s upgrade elevates Vietnam from frontier to emerging status, AGMs become a critical governance showcase for foreign capital. VIOD explains AGM culture not only as a procedural requirement but as a leadership and investor-relations discipline. Training for board members highlights stakeholder engagement before, during, and after AGMs—akin to civic engagement with shareholders. The biggest ‘gift’ an AGM can deliver to investors is culture: a meeting where shareholders’ voices are heard, respected, and integrated into the company’s sustainable growth narrative. The AGM and its organization are criteria by which investors judge governance quality. VIOD’s AGM Awards recognize companies that not only comply with the law but also engage ethically with shareholders. The awards aim to set a standard and disseminate a message across Vietnam’s corporate community during AGM season: well-run AGMs contribute to reputational value and market confidence. Linh Linh; Hương Xuân Source attribution and editorial notes accompany the article, which highlights AGM culture, governance, and investor sentiment during a period of market upgrading.