President Ibrahim Mohamed Solih has appealed to the managements of companies to conduct bidding and procurement process as transparent as possible, adding corruption can take place most easily in the companies during the procurement and bidding process.
Speaking at the opening ceremony of the Strengthening of Corporate Governance Symposium held at National Arts Gallery, President Solih mentioned the pledge of the administration is to improve the living situation of citizens without discrimination and to ensure basic necessities for all. He said the role of government companies is vital in achieving the pledge.
Noting business-based companies must execute responsibilities by targeting to achieve benefits, the president expressed service-based companies must target to provide efficient and acceptable services to the citizens. Reminding legal outlines and frameworks are formed to operate the companies, President Solih stated one target of the new corporate governance code is to shape the companies efficiently to achieve the goals.
He reiterated the importance of following the best practices out laid by the government as corporate governance rules and regulations encourage all business owners and workers to abide by their ethical duty, especially while handling financial transactions and to try to elevate their relationship with the public through enhanced corporate social responsibility activities.
The president underscored the government's most vital policy is zero tolerance for corruption. Speaking in this regard, he advised the companies to share the information required by Ministry of Finance, including financial transactions.