Corruption is one of the leading reasons for the political and economic failures of many developing countries. Corruption impedes the development of markets, drives away investment, increases the costs of doing business, and undermines the rule of law. The need for an increased emphasis on fighting corruption is more evident today than ever before, as global corruption flows, according to World Bank estimates, have now surpassed $1 trillion annually. The attitudes toward corruption are changing. The business community is no longer blaming corruption - and placing the burden of combating it - solely on government officials. The emerging consensus is that anti- corruption efforts should combine initiatives from the business community, the public sector, and civil society. More importantly, combating corruption requires more than grandiose statements and the removal of corrupt public officials. It requires concrete action to change the incentive systems that sustain bribery and extortion.
This is why we launched a new initiative to form the Corporate Supporters Forum, a society of companies with high ethical standards.
Transparency International Hungary organized business breakfast for their Corporate Supporters Forum. The special guest was András Simor, the Governor of the Hungarian Central Bank.
Today Zoltan Nagy, President of GVH (Competition Office) has handed over this year’s prizes ’For the Culture of Competition’ and ’For the Culture of Competition Media’ both established by the GVH Center for the Culture of Competition.
IMF chief representative was invited to the business breakfast of Transparency International Hungary