Photo credit: Armenian Lawyer’s Association
This blog originally appeared on the FCPA Blog, linked here.
By Natalia Otel Belan and Yulia Glubokaya, respectively the regional director for Europe and Eurasia at the Center for International Private Enterprise (CIPE) and the deputy director for compliance at VimpelCom Russia.
Small and medium enterprises (SMEs) in emerging markets in Eurasia must demonstrate the ability to assess and mitigate corruption risks in order to do business with multinational firms. The vast majority of SMEs in the region are unable to do so. While corruption risks remain high, these firms are unable to access opportunities for growth. Until recently, Armenia was a case in point.
As discussed here by our colleague Katya Lysova, Armenia now has significant political momentum to fight corruption and the business community wants to do the “right thing.” To support this extraordinary opening, CIPE has recently launched an anti-corruption compliance program for the Armenian business community. Read More...