Siemens prioritises corruption-free deals

German firm Siemens AG has announced the first list of anti-corruption projects around the world that will receive financing under its US$100 million integrity initiative to promote clean markets.

The initiative is part of an agreement signed by the World Bank and Siemens last year.

An initial amount of $40 million will be distributed to more than 30 initiatives in over 20 countries that have been chosen.

About 300 non-profit organisations in 66 countries had applied for funding in the first round.

The selected projects are in Angola, Brazil, China, Egypt, Hungary, India, Indonesia, Italy, Mexico, Nigeria, the Philippines, Russia, the Slovak Republic, South Africa, the Czech Republic, the US, various Middle Eastern nations, and Viet Nam.

Leonard McCarthy, integrity vice president of the World Bank Group, said: “corruption steals from the poor, and it can only be tackled on a joint basis. The projects of the Siemens Integrity Initiative will help strengthen the will to combat corruption world-wide and improve conditions for everyone.”

In Viet Nam, the initiative aims at bringing companies together to work towards improving integrity and transparency in the way business is conducted.

Raising awareness, promoting dialogue among stakeholders, and training will be the key activities.

Erdal Elver, president and CEO of Siemens Vietnam, said together with the Viet Nam Chamber of Commerce and Industry (VCCI), his firm will promote a healthy business environment in Viet Nam.

“More than ever, integrity and transparency in business must be seen as a prerequisite for the sustainable growth of any civilised society,” he said.

Nguyen Quang Vinh, general director of the VCCI’s Office for Business Sustainable Development, said: “The initiative forms a dynamic partnership between businesses, governments, civil society organisations, and international organisations to improve business standards that have significant influence on the fight against corruption in Viet Nam.” — VNS

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