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.
loses an estimated $500 million a year in state income to corruption, and
companies routinely cite corruption as a major impediment to creating
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.