The Global Growth Agenda
SPIEF Open Debate
Pavilion 4, Conference Hall 4.2

Endemic corruption and opacity in markets are preventing investment and retarding global growth. What practical, concrete measures should be taken to address these issues? How can greater public–private coordination on an international basis reduce corruption and improve the business environment?

Steve Sedgwick , Anchor, CNBC

Sergey Belyakov , Deputy Minister for Economic Development of the Russian Federation
Georg Kell , Executive Director, United Nations Global Compact
Boris Titov , Presidential Commissioner of the Russian Federation for the Protection of Entrepreneurs’ Rights


Key moments

It has to be said: there are rules of the game, and they’re the same for everyone. If someone doesn’t follow them, there’ll be a reaction from the government.
Sergey Belyakov
The practice which is being established in Russia makes me personally feel optimistic. On one hand, it might seem that we’re still a long way from achieving our goal. But on the other hand, we’ve admitted that this is a disease, that we’re suffering from it; and it’s simply impossible to treat this disease without declaring that fact.
Sergey Belyakov
Competition and business success must be based on predictability and low transaction costs. Corruption, simply speaking, is a high transaction cost, it doesn’t add value, it takes away value; it eats up value.
Georg Kell
The anticorruption support is growing worldwide and that’s basically very good news.
Georg Kell
I want to compare corruption with cancer. When corruption is at a low level in an economy, it doesn’t even really seem to interfere with the body, but the bigger the tumour gets, the more it devours the economy itself and the less competitive the economy becomes.
Elena Nikolaeva
A serious step has been taken to foster an uncompromising attitude towards corruption. Corruption has already become somewhat shameful rather than being the current state of the social system.
Boris Titov
If we have competition and if we have a lot of sectors of entrepreneurship, it would truly be a powerful social group. In this way we will create a strong class of owners in the country and corruption will disappear on its own.
Boris Titov