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International experts train Kyrgyzstan’s private sector in anti-corruption methods

September 6, 2023

What is corruption and how can the private sector be involved in the fight against this phenomenon? At the same time, it is necessary to ensure that all corporate processes comply with the law, as well as the internal standards of the company.

These and many other issues are being discussed at the Trainers for Trainers (ToT) course on anti-corruption compliance in the private sector, which takes place September 5-8 in Bishkek. The event is hosted by the Council of Europe and the European Union.

In his welcoming speech, Askar Sydykov, head of the International Business Council, who initiated the training, thanked the Council of Europe and the EU Delegation to Kyrgyzstan for the fast response to the inquiry of the business community.

“This training was organized in response to our request in July about the need for such training events for the business community in our country. World-renowned experts from the UK have arrived in Bishkek,” said Askar Sydykov.

"We were pleasantly surprised by the great interest from both IBC members and other partner associations. We are glad to note that in our country, anti-corruption compliance, corporate governance, and ESG in general are systematically developing. We are confident that the participants of the training, our companies representing the food industry, banking, consulting, IT industry and other areas, will share their knowledge not only in their companies, but also in other partner organizations,” Sydykov said.

The ToT program is designed for future trainers of the Anti-Corruption Business Council under the President of the Kyrgyz Republic, the International Business Council, the JIA Business Association and other organizations in the region who will train their colleagues and other stakeholders in the private sector on corporate anti-corruption compliance.

What is the importance of such events? Anti-corruption compliance, that is, compliance with anti-corruption laws, is an integral part of corporate governance, which, in turn, is part of the global ESG movement (Environmental, Social, Governance).

“To receive international funding sources, companies must comply with ESG standards. It should be borne in mind that access to financing is now very important for our companies. These standards must be met in order to enter international markets and, in general, for the development of any company at the local, regional or global level. It's demands of the times, the IBC head explained.

He also recalled that one of the objectives of the Sustainable Development Goals (SDGs), adopted by the UN in 2015, specifically refers to measures to significantly reduce corruption and bribery in all their forms.

The four-day training program is rich. In their presentations, international experts will not only identify areas of corruption risk, but also introduce the tools for preventing corporate corruption, including codes of professional ethics. Experts also include declaration of assets and beneficial ownership among such tools.

According to experts, good corporate governance is facilitated by due diligence in sales, purchasing, contracting, dealing with third parties and employment. Council of Europe experts will talk about the mechanisms of cooperation between government agencies and the private sector in promoting corporate anti-corruption compliance.

Thus, the business community of Kyrgyzstan will develop, enter international markets, and the country's economy will develop along with it. IBC will continue to cooperate with international organizations to introduce best practices into the business environment of our country.