Fighting Corruption and Building Trust
Phnom Penh, Cambodia - 3-4 September 2014
News Release 5 September - Asian Governments to Fight Corruption and Illicit Financial Flows to Restore Trust
Trust is one of the core foundations upon which all legitimate and sustainable political systems are built: it is essential for social cohesion and well-being. Trust is a vital ingredient for successful policy-making, as the implementation of many government policies depends on behavioural responses from the public. Trust is equally essential for the private sector as it increases competitiveness by lowering transaction and compliance costs. Overall, trust represents a core outcome of governmental performance.
However, in recent years, particularly as a result of the economic crisis, citizens’ trust in public institutions has plummeted in most countries. Citizens across the globe doubt the real control that governments have over events, questioning their role as competent stewards of the public interest. Surveys have shown that corruption is the principal reason for the decline of trust levels. Citizens’ trust in other actors, such as businesses, is also suffering all-time lows. There is an urgent need to address this growing distrust by ensuring the credibility of public decision-making bodies and strengthening the underlying institutional conditions that shape government policy, and equipping businesses with the tools required to build and retain the public’s trust.
Cambodian Prime Minister Hun Sen welcomed participants to the 8th ADB/OECD Anti-Corruption Conference where discussions focused on key levers for restoring trust in government and building trust by and in the private sector and civil society. Leading global experts from all the relevant disciplines, representing international organisations, leading enterprises and business associations, civil society, and multilateral and donor organisations, shared their experiences on ways to fight corruption and contribute to building trust in governments, private sector and civil society.
This Conference was designed for policy makers, legislators, compliance practitioners, and civil society and private sector representatives seeking holistic solutions to corruption in Asia and the Pacific.
For further information, please contact the Government of Cambodia or the Secretariat of the ADB/OECD Anti-Corruption Initiative for Asia and the Pacific:
William Loo, OECD
Julio Bacio Terracino, OECD