The National Anti-Corruption Commission (NACC) and the Joint Foreign Chambers of Commerce in Thailand (JFCCT) today announced the signing of a Memorandum of Understanding (MoU) about anti-corruption measures. The MoU is to encourage, support and strengthen participation in various forms of anti-corruption initiatives, including:
- Encouraging the private business sector to work towards compliance with principles of good corporate governance and to help educate the business sector on the negative consequences of corrupt activities;
- Working on developing a Voluntary Code of Conduct, which all businesses in Thailand (local and foreign) can use, aspire to, and eventually comply with.
- Building and strengthening networks both at the institutional and individual levels of the private business sectors on anti-corruption, to encourage preventative roles and to partake of various forms of anti-corruption initiatives.
“Corruption has a very negative impact on our economy. The on-going task of reduction of corrupt activities and its eventual elimination needs support and collaboration from the private sector. It is greatly reassuring that the foreign business community has engaged with the NACC to support these activities and initiatives. We look forward to the participation and ideas of the JFCCT and its members in the activities” Mr. Panthep Klanarongran, the President of the NACC, said.
Although not legally binding, the MoU is made in good faith with strong commitment towards its objectives and activities from both parties. The JFCCT would not assume any investigative or watchdog role.
“The JFCCT has a long history of contributing positively to the Thai economy, and resisting what we see to be threats. Corruption’s influence is far reaching and its tentacles permeate
far too many areas of business. The harmful nature of its impact is not understood well enough. Reduction of corruption is a key policy point of the current government. The JFCCT is pleased to be working with the NACC through this MoU”, said Mr Stanley Kang, Chairman of the JFCCT.
For more information, please find the enclosed memorandum.