Shareholders meet through videoconferencing

Thursday, March 31 2011

Vietnamese companies are using the power of videoconferencing to hold general shareholder meetings in the country.

Companies like Refrigeration & Electrical Engineering (REE) are using the technology to attract legal quorum important for any decision-making meetings. REE Chairman Nguyen Thi Mai Thanh explained to Vietnam News that the company has a huge number of shareholders all over the country and that videoconferencing solves the dilemma of individuals who may not be able to make it to Ho Chi Minh City or Hanoi.

This month's meeting, for example, allowed Nguyen to interact with investors and other company leaders through a large screen in the conference room. The participation was also bigger this month due to the technology, the news outlet added.

REE is expected to create a trend after other companies who were holding a similar shareholders' conference failed to attract the sufficient amount for quorum. General director for SACOM Development and Investement Co Do Van Trac mentioned to the news outlet that they are looking forward to experience videoconferencing for their own meeting next year.