Original report from Phnom Penh
06 November 2008
Facing ongoing corruption that is hurting their livelihoods, around 40 companies have joined together in a “clean business” endeavor.
The initiative, which officially began in September, seeks to join companies together to promote transparency in business dealings and avoid informal taxes or fraudulent prices, said Ka Ki, director of Morison Kak and Associates, a member of the initiative.
“We must strengthen the implementation of the law, because we do not have a culture that respects the law appropriately,” he said.
“Clean” businesses will avoid paying exploitive charges, undertaking corrupt practices, or selling fraudulent products.
In Channy, president of Acleda Bank, another member of the initiative, said he believed the initiative will lead to increased transparency and cooperation in commerce.
“Clean business will improve confidence and help encourage trust” of customers and the public, he said.
The initiative was even more important as Cambodia moves toward a 2009 stock market.
Cambodia loses an estimated $500 million a year in state income to corruption, and companies routinely cite corruption as a major impediment to creating competitive businesses.
At the announcement of the initiative in September, Commerce Minister Cham Prasidh acknowledged Cambodia’s need to attract foreign investors and strengthen the rule of law.
Mong Reththy, who Mong Reththey Group has not joined the initiative, said he supports it but would wait to see if it would succeed.
The initiative, which officially began in September, seeks to join companies together to promote transparency in business dealings and avoid informal taxes or fraudulent prices, said Ka Ki, director of Morison Kak and Associates, a member of the initiative.
“We must strengthen the implementation of the law, because we do not have a culture that respects the law appropriately,” he said.
“Clean” businesses will avoid paying exploitive charges, undertaking corrupt practices, or selling fraudulent products.
In Channy, president of Acleda Bank, another member of the initiative, said he believed the initiative will lead to increased transparency and cooperation in commerce.
“Clean business will improve confidence and help encourage trust” of customers and the public, he said.
The initiative was even more important as Cambodia moves toward a 2009 stock market.
Cambodia loses an estimated $500 million a year in state income to corruption, and companies routinely cite corruption as a major impediment to creating competitive businesses.
At the announcement of the initiative in September, Commerce Minister Cham Prasidh acknowledged Cambodia’s need to attract foreign investors and strengthen the rule of law.
Mong Reththy, who Mong Reththey Group has not joined the initiative, said he supports it but would wait to see if it would succeed.
13 comments:
Oh yes, ah Mong Reththy the major corruption in Cambodia.
This guy is animal; destroy the poor to make ah Hun Sen happy.
We need more of such initiatives in Cambodia.
Mong Ritthy the drug producer and dealer? What do you expect from this kind of people!
If the Hun Sen government wont past the Anti-Corruption Law, business have to establish such an organization because paying off those Hun Sen officials are costly to their bottom lines. Those money could easily goes to expand operation and hire more workers.
Your blog is so attractive. But it's such a pity that you let readers disgrace it by unnecessary use of improper words.
Dear KI Media Team:
Thank you so much for your dedication to news related to Cambodia. Please advise on how I could post an article related to an eye clinic for blind children in Toul Kork.
Regards,
HUN XEN : DON'T BE WOORIED ABOUT YOUR ILLEGAL TRADE... YOU'RE MY CLOSER,RIGTH HAND ...AS A MEMBER OF SANATE I PROPOSED YOU, CAUSE OUR BOSS NEEDS SUCH MEN LIKE US.
RITHY : WE PAGODA CHILD TOGETHER(KHMENG WAT).
I think this is a great initiative! They also have a very useful website with more information: www.cleanbusiness.com.kh.
That bastard Mong Reththy is too clean to join. I guess he live in the pagoda too long when he was young, he reach nirvana already (cleaner than that you die).
It's about time someone should set example for Wall Street and Washington.
These companies does not pay taxes anyway. Why are they complaining when they are required to pay alternative taxes e.i. factory inspections, toll road taxes, etc..
hamona hamoot
Where are your from 11:11am?
8:25AM enjoy the blog than skip the comment section! Use your braid dude stop depend on you PHD with no education! STUPID!!!
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