Corporate responsibility has been a key factor of sustainable social and economic growth, and it has also had a positive impact on the long-term prosperity of enterprises, participants of the conference organized by the Ministry for National Economy and the Organization for Economic Cooperation and Development (OECD) stressed.
Experts from 22 countries, managers of Hungarian and foreign companies, advocacy group leaders as well as representatives of the field of public administration, press and higher education participated at the event.
As Deputy State Secretary for Taxation and Auditing Zoltán Pankucsi emphasised that making the investment environment more attractive is a major economic stimulus tool for the Government. Enterprises can achieve sustainable business success and profits not only through the maximising of short-term profitability, they also need a market-oriented but responsible attitude, he added.
The OECD endorsed the Guidelines for Multinational Enterprises on responsible business conduct in 2000, which is the most comprehensive set of recommendations adopted by 34 OECD member countries and 12 non-OECD members. Presentations of the conference confirmed that OECD guidelines encourage and bolster business conduct of multinational enterprises that facilitate sustainable economic and steady social development. The proper application of guidelines can on the one hand improve – through promoting level competition conditions -- the attractiveness of a country as an investment destination and, on the other hand, it can combat unethical market practices and help resolve conflicts occasionally arising between companies and the population of a country.
The application of OECD guidelines is voluntary for enterprises, but every participating country is obliged to establish a so-called National Contact Point, which is responsible for disseminating the Guidelines and providing a supporting, conflict-resolving and consulting mechanism for economic and business stakeholders.
(Ministry for National Economy)
