Thinley Namgay
Bhutan in collaboration with Asian Development Bank (ADB) and Organisation for Economic Cooperation and Development (OECD) will host the 2024 Anti-Corruption Initiative for Asia and the Pacific’s regional seminar from September 25 to 27 in Thimphu.
Bhutan will be co-hosting this important regional seminar for the second time after 2016.
On the theme of “Government Incentives for Corporate Anti-Corruption Compliance”, the annual regional seminar will bring together hundreds of delegates, anti-corruption experts, and practitioners from the 34 member economies in the seminar.
Representatives from civil society organisations, international organisations, and the private sector will also participate.
ACC sees the upcoming conference as crucial, given that the common goal among OECD member countries is combating corruption and promoting integrity.
Bhutan has maintained a score of 68 points for the fifth consecutive year and was ranked 25th for the second year in a row in Transparency International’s Corruption Perception Index (CPI) 2022, released on January 31, 2023.
Bhutan is among 124 countries with stagnant scores and has held the sixth position in the Asia-Pacific region for the past decade.
ACC officials noted that the involvement of the private sector in the upcoming seminar could contribute to improving Bhutan’s ease of doing business.
In 2020, the World Bank ranked Bhutan 89th out of 190 countries in terms of ease of doing business. The ranking highlighted several challenges, including complex administrative procedures, limited access to finance, and an inadequate business culture.
Officials emphasised the private sector’s critical role in the economy, stressing that businesses need to be aware of international best practices to ensure ethical conduct and compliance. They noted that while the private sector in Bhutan tends to focus on profit, this approach is unsustainable in the long run if ethical business practices are not prioritised.
As an example, officials pointed out that companies in other countries take swift action when even a single consumer makes a negative comment about their product or service, recognizing the potential impact on their brand reputation.
Officials emphasised that Bhutanese businesspeople should take lessons from such practices.
The seminar will feature 70 speakers, with 35 confirmed as of yesterday.
The event will focus on how governments can design and implement incentives to encourage businesses to adopt ethical practices, comply with anti-corruption requirements, and serve as role models through transparency initiatives.
It will also cover strategies for preventing and detecting corruption and fostering cooperation with law enforcement.
The seminar will also explore how anti-corruption tools and frameworks can promote ethical behaviour within companies, the importance of responsible lobbying to protect the public interest from corruption, and the need to prevent undue influence.
A key topic will be how aligning with international standards can harmonise global efforts to incentivise cross-border compliance with integrity and anti-corruption regulations.