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News / IBC news /
How to comply with international anti-corruption requirements

IBC
November 30, 2017

IBC representatives took part in the workshop "Business Ethics and Compliance with Anti-Corruption Requirements" held on November 28029 by the Office of the Co-ordinator of OSCE Economic and Environmental Activities (OCEEA) and the OSCE Program Office in Bishkek.

The event was attended by representatives of relevant state bodies of the Kyrgyz Republic, the business community and public organizations. International conventions and national laws, acting at the international level, on combating corruption and bribery, as well as examples and initiatives to comply with international legal instruments at the national level were considered.

Speaking in the discussions, IBC Executive Director Askar Sydykov said that large businesses operating in the Kyrgyz Republic strictly observe all laws and regulations, as they are controlled not only in the country, but also from abroad (as a rule, foreign investors are involved in large companies). As for small business, firstly it is necessary to create conditions under which it would be unprofitable for businesses to not comply with laws or work in the shadow sector. The Government should focus on structural reforms and review functions in public administration.

The business community supports initiatives aimed at enhancing the transparency of the activities of both government agencies and operating companies.

For example, IBC is actively involved in the process of integrating the standards of the Extractive Industries Transparency Initiative (EITI) into the state mining management system of the Kyrgyz Republic. In addition, the IBC recently concluded a Memorandum of cooperation with the State Service for Combating Economic Crimes under the Government of the Kyrgyz Republic (Financial Police).