The economy of the Republic of Moldova is small and most of the time the business is obliged to solve its problems by means of scams to ease its activity. The lack of internal anti-corruption rules in the company prevents the possibility of doing business in other markets where there are high standards of integrity and business ethics. On the other hand, the implementation of anti-corruption programs will bring reputation benefits, which will allow it to expand its business abroad, especially on the European Union market. It is the opinion expressed by IDIS Viitorul expert Viorel Pîrvan within the program "15 minutes of economic realism".
The expert argues that 80.8% of the companies did not elaborate an action program with special anti-corruption rules and procedures, 76.5% of companies do not have procedures to prevent and sanction bribery, 66.1% of economic agents do not have procedures to prevent conflicts of interest, and 72% of companies do not disclose their anti-corruption policies to potential business partners and do not assess whether they have effective anti-corruption programs.
A solution to tackle business corruption is developing the corporate governance code, which is predominantly found in large companies. These can also be applied to small and medium-sized enterprises that can take on the principles of corporate governance. Companies can also develop codes of conduct that are multiple and different and reflect the unique culture of each company. They are based on the same principles: law enforcement and business conduct with integrity.
Viorel Pîrvan says that the advantages of complying with anti-corruption rules for small and medium-sized enterprises are that the country is small and, respectively, "everyone will know you are corrupt. This will prevent you from attracting new business partners from the country, especially large companies, whether foreign-owned or mixed-capital, which already have and are conducting their anti-corruption internal programs and policies".
"Multinational corporations will look for those business partners in the Republic of Moldova that implement compliance programs and anti-corruption policies within the company. Moreover, international organizations grant low interest-rate loans, but they will not lend to corrupt companies. Companies with anti-corruption policies enjoy easy access to cheap money for a long period,", Pîrvan concluded.
The show is made by IDIS "Viitorul" in partnership with Radio Free Europe.
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