Robert Davies: Bulgaria Should Improve Corporate Governance

Novinite Insider » INTERVIEW | November 21, 2003, Friday // 00:00
Robert Davies: Bulgaria Should Improve Corporate Governance Photo by Yuliana Nikolova (novinite.com)

Robert Davies is the founder and Chief Executive of The Prince of Wales International Business Leaders Forum, and has lead its activities since 1990 with global corporations promoting responsible business practices and partnerships for development in over 40 countries. As an entrepreneur in the not-for-profit sector he was previously the deputy chief executive of Business in the Community in the UK and his career has encompassed urban and economic development, health, energy and social policy, the arts, TV production, journalism and communications. He has extensive experience in working with inter-governmental organisations including the World Bank, OECD, European Union, World Health Organisation and other UN organisations. He was awarded a 'CMG' (Companion of the Most Distinguished Order of St Michael & St George) for services to foreign affairs and the IBLF in the UK Millennium Honours list. Davies arrived in Sofia on Friday to attend the conference Corporate Engagement - the Business of Business, organised on the occasion of the Bulgarian Business Leaders Forum fifth anniversary.

Robert Davies answered the questions of the Novinite.com Editor Irina Papancheva.

Q: How would you comment on the deadly terrorist attacks in Istanbul, obviously directed against Britain?

A: The terrorist bombings in Istanbul yesterday were a great tragedy. We all have a deep sorrow for British people as well as for Turkish people, who were killed, injured and otherwise affected by that as well as for their families. In a time like this it is very easy, at the very least, to say: we should go about ordinary business. But as someone who runs an international organization, working in over 50 countries, and many of these countries have risks of conflict and terrorism, I can say that it is very, very important, even more important today, that business leaders and others work together, take a higher profile in the activity to tackle economical and social issues as unemployment and demonstrate real leadership, because it is only the sense of collaboration and internationalism, and crossing cultures, and doing something between the successful and the less successful, which in a long run will guarantee greater security and stability in all our countries.

Q: In a previous interview with Novinite.com you say: "It is important that there is a good climate for investment, economic and political stability and fair regulation of the economy in Bulgaria". Do you think that now, after these terrorist attacks, investment climate in the region and especially in Bulgaria will change in a negative way?

A: First at all, what I see as outsider is that investment and business climate in Bulgaria is improving. Perhaps it is improving slower than many people would want and a lot of progress still needs to be made in corporate governance, business ethics, open procurement, procedures with the government, but Bulgaria has enormous tourism potential. Bulgaria has been unaffected by terrorism and, as far as we can see, Bulgaria is also taking a lot of security measures as other countries are. And although international terrorism is affected by economic downturn and by international terrorism, I think, within Europe Bulgaria should not be too seriously affected as long as it still remains vigilant and cautious about security issues. It is much more important at the moment to tackle also environmental issues, to make sure that streets are safe, that places are clean, because this has also a long term impact on investments in tourism.

Q: There were articles in Turkish press stating that similar accidents might be expected here too...

A: I think this is the case all over the world. London is on a constant state top terrorist alert. Sure there are threats, we all have to be vigilant, but if I could say, we mustn't close down, we've got to show, we've got to take a lead, we've got to confront issues. At the same time we've got to encourage people to travel, to talk to each other, to exchange, because without that terrorists win. Because terrorists' aim is to terrorize the frightened people and this is the responsibility of leaders - to lead - but at the same time they must also be cautious about security arrangements. We must not get it out of proportion.

Q: The Bulgarian Business Leaders Forum BBLF celebrated its fifth anniversary today. How do you see its role in the country economy?

A: I think the BBLF has a very important role in the country's economy. It is not so much to encourage the investments but - what is important - to encourage the improvement of the business standards, to encourage companies working together, to increase the quality of human recourses, to make a better bridge between the education world and working world. Its role is also to get companies collaborate on environmental improvements and to encourage collaboration with civil society organizations, which have such an important position in the society, as well as to raise the standards of business ethics. All these are the activities of BBLF: getting companies together, raising the awareness, getting them to commit to a new way of working, and - most importantly - following up the talking by action and really doing things. This is successful as BBLF goes forward and undoubtedly makes an impact on an improved business environment. It would also increase the readiness of Bulgaria to join the EU.

Q: What is the impact of the BBLF on ordinary people life?

A: I think the impact of BBLF on the lives of ordinary people is indirect. Fist at all the BBLF will have an impact on the lives of people, who are employed by its member companies, by encouraging them to get more active in economic and social development, to involve employees in projects. That can have more direct effect on the lives of employees. I think also that BBLF encourages good practice in community involvement for many of the BBLF members are very involved in their own communities around Bulgaria. What I am saying is that if the economy is operating in a responsible way, engaging the community, that will automatically have an impact not just on the BBLF members' employees but also on the customers and on the communities in which these companies are based.

Q: In which way the Bulgarian business should change in the times of transition? What kind of challenges will Bulgarian businessmen face in the process of EU accession?

A: In transition the critical priorities I think for Bulgarian business are the following: to increase the transparency and improve corporate governance and to get much, much more involved with the education institutions, improving and modernizing the education and bringing enterprise opportunities to young people. Also it is very important that Bulgarian business does promote standards in consumer standards, environmental standards as part of the quality mix. There are lots of things the Bulgarian business can do to help strengthening the government's ability to manage the economy. Sharing management skills, trying to improve the quality of ministries and government is a big challenge in all the countries in transition, including Bulgaria. But that has to be done in an open and transparent way.

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