Arricano has become a part of the Network of Integrity and Compliance

On May 19, 2017 Arricano Real Estate Plc has signed the Declaration on the organization of all-Ukrainian network of integrity and compliance, which aim is to contribute to the formation of culture of business integrity in Ukraine, to promote transparent business, to raise awareness of business relations principles and to encourage the business community's interest in combating corruption.            

The organization of the Network was initiated and the Declaration on its organization was signed by 46 companies - leaders of the business community of Ukraine, including Arricano Real Estate Plc, Nibulon, Siemens, "Metro Cash and Carry Ukraine, Danosha, Victoria Gardens, Nova Poshta, Agromars, Nobel, Astarta, Ukrsibbank, Kredobank, British Council and others, with the active support of the Business Ombudsman Council, the Organization for Economic Cooperation and Development and the European Bank for Reconstruction and Development.            

"For many companies, especially for stock exchanges, it is obvious that honest business, transparency and integrity ensure the development of the company and the economy of the country in general," says Mykhailo Merkulov, CEO of Arricano Real Estate Plc. - Due to transparency of business operations and fair play, a healthy competitive business environment and fair market relations are formed. In such an atmosphere, the quality of goods and services is being improved, the market is developing and the economy is growing. The companies-members of the Network of integrity and compliance that share such approaches and principles can do more when they are together. Hopefully, they can fight against the systemic corruption."            

The companies committed themselves not only to adhere to the principles of integral doing the business, to provide an example of fight against corruption and of transparent business management, but also to contribute to the Network's initiatives.            

CEO Arricano Real Estate Plc draws attention to the fact that many signatories of the Declaration has started the implementation of the principles of transparent business and partnership business relations long time ago, therefore their participation in the creation of the Network, the interest in extension of honest culture of business relations and fighting against corruption are logical.            

Corruption remains the main factor that hampers the economic growth of Ukraine. "According to Transparency International, Ukraine ranks 131st out of 176 positions in the rating of perception of corruption. The creation of the network will help the leaders of the business community of Ukraine who are aware of the importance of transparent business and are ready to become an example for other companies to join their efforts. We will actively support the activities of the Network," says business ombudsman Algirdas Shemeta.

The participating companies committed themselves to work on assessing anti-corruption risks of a company, implementing anti-corruption policies and compliance programs aimed at ethical behavior of management and employees, to involve business representatives to public discussions of issues that arise by providing transparency and integrity and to popularize the Network's activities.            

"Since the organization of the group in Arricano, all domestic policies and compliance rules have been formed in accordance with national and international law. Transparency, trust and development of partnership relations are those principles declared by our European investors and integrated into our corporate culture. The placement of shares on the London Stock Exchange's Alternative Investment Market and cooperation with the EBRD significantly strengthens and supports our desire to improve and to implement the best practices in business management, financial reporting and compliance approaches because that allows our investors, partners and banks to cooperate confidently and efficiently with our company, to rely on us and to entrust us their investments," said Victoria Balyuk, head of the legal department (working with non-residents) of Arricano. Any company from any industry that shares the approaches, goals, principles and tasks of the business community recorded in the Declaration can join the Network.