Institutionalization of integrity measures in private sector - important steps towards a prosperous economy

The research was conducted within the Project "Strengthening the corruption prevention and analysis functions of the National Anticorruption Center (NAC)", implemented by the UNDP Moldova with the financial support of the Ministry of Foreign Affairs of Norway.

The authors of the study highlighted the lack of incentives to promote integrity and prevent corruption in private sector, in particular:

• respect of the regime of restrictions and limitations related to the termination of a mandate, resignation or retirement and post-employment restrictions for public officials in the private sector;
• compliance with the ethical business principles and standards;
• establishment of the internal control systems;
• transparency of the commercial organization’s shareholders, founders, directors and beneficial owners;
• transparency of the state’s affairs with private sector.

NAC holds a leading role in the institutionalization process of the integrity measures in business environment by promoting a communication platform between business and public sector, where any issues, problems or initiatives related to the anticorruption area can be discussed.

Another important aspect revealed by the experts is the necessity of a prompt promotion of the codes of conduct in private sector, as an important management instrument in establishing principles, responsibilities, obligations, ethical behavior and the way of functioning of a company.

The experts also developed and proposed a sample Code of ethics for small and medium-sized enterprises that could be adopted by the economic agents.