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February 26, 2020

Legal Summit Confindustria Romania. Villabruna: Corruption represents a veritable obstacle to a country’s economic growth

On Thursday, June 20, the Confindustria Romania Employers’ Association held its Annual General Assembly meeting in the Round Hall of the Intercontinental Hotel in Bucharest, event followed by the seventh edition of the BOTH WORLDS Forum, under the aegis of the Italian Embassy in Bucharest.

This year, the topic was legality and the fight against the phenomenon of corruption.

“Conformity & Anticorruption – Methods and Standards,” a veritable Legal Summit on sensitive topics that put Romania at the forefront of a phenomenon – corruption – that cannot be underestimated because it represents a veritable obstacle to a country’s economic growth.

The proceedings of the conference were opened by Confindustria Romania President Giovanni Villabruna, who pointed out that the phenomenon of corruption undermines the credibility of a country and ruins its image both domestically but especially abroad, prompting the inevitable reduction of foreign direct investments.

“Corruption represents a veritable obstacle to a country’s economic growth. That is why Confindustria Romania will permanently fight this phenomenon in order to protect its member companies.”

His Excellency Marco Giungi, Italy’s Ambassador to Bucharest, stated that corruption affects both the private sector and the public sector, under various aspects: legally, socially, economically and ethically. On an economic plane, corruption leads to a reduction in efficiency and distorts the competition. He also talked about the need for transparency in procedures, because only this can reduce the risk of corruption.

During the proceedings, Tudor Buzatu, secretary of state within the body responsible with Romania’s strategic partnerships, gave a speech on behalf of the Romanian Government, talking in it about the promotion of integrity standards in view of promoting sustainability within companies.

The General Assembly of Confindustria Romania also enjoyed the presence of high-ranking magistrates from Italy, who tackled the sensitive topic of corruption from the standpoint of the Italian experience and tried to offer concrete anticorruption solutions. Filippo Di Benedetto, the representative of the prosecutor general from the Prosecutor General’s Office in Florence, stated that a magistracy independent from political power is the most important instrument for fighting corruption. Only an independent magistracy can protect the interests of all citizens. Social stigma could be another instrument for fighting corruption: those who perpetrate corruption crimes against the interests of society are gradually pushed to the edge of society, by eliminating them from the important events in the life of the community. He also pointed out that corruption creates the fertile ground for the emergence of the extreme phenomenon of organised crime.

In his turn, Filippo Romano, Director of Italy’s National Anticorruption Authority (ANAC), warned that the phenomenon of corruption, whether we are talking about low-level corruption or high-level corruption, is present in all states. Even Italy has registered particularly significant economic losses because of corruption, stating that the damages that Italy incurred because of corruption total 60 billion euro, leading to the impoverishment of companies, society, the state.

Elena Hach, prosecutor within the National Anticorruption Directorate, discussed and explained the concept of criminal intelligence, which is the result of correlating intelligence and the analysis of intelligence received on a potential suspicious transaction report.

RINA ROMANIA representative Cosmin Theohari talked about ‘RINA’s approach toward anticorruption: conformity, accreditation, services,’ while TONUCCI&PARTNERS representative Pasquale Silvestro presented the ‘Juridical integrity of corporate conformity models in Romanian law firms with Italian participation: suggestions and good practices.’

UGIR President George Paunescu and secretaries of state from the Romanian Government were among the guests present at Confindustria Romania’s General Assembly meeting.

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