Altan San Securities - Mongolia Investment - World Bank arm to help professional inspection become more business-friendly

World Bank arm to help professional inspection become more business-friendly

Among those present at a recent meeting of the Consultative Council for Investment Climate and Private Sector Development (CCICPSD), co-chaired by First Deputy Prime Minister N.Altankhuyag and World Bank Managing Director Juan Jose Daboub, were representatives of the private sector, and international and domestic banking and financial organizations. The meeting discussed ways to improve professional inspection.

Ms. Josephine Bassinette, Program Manager, Business Enabling Environment, at the IFC –- a member of the World Bank group with special responsibility for providing investments and advisory services to build the private sector in developing countries -- said professional inspections certainly played an important role in ensuring public security, but their inefficient implementation puts various burdens on the private sector. She felt such inspection is not transparent enough in Mongolia at the moment, and allows corruption and bribery to flourish. The IFC has prepared a project to change the ways of work in the area which will fulfill all requirements of the State, while making things easier for business. The project will introduce the best international practices, enhancing inspectors' competence and thus getting more out of their work. Emphasis will be placed on raising the level of public awareness of such inspection activities and their goals.

Source: www.news.mn

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