February 10, 2005 — In recognition of the role that good corporate citizenship can play in promoting and strengthening the impact of private sector activity, the Ministry of Commerce, the Corporate Citizenship Facility of the International Finance Corporation (IFC), and IFC’s Mekong Private Sector Development Facility, launched a competition for Corporate Citizenship Awards.
In February 2005, four awards were made to Cambodian companies that best demonstrated excellence in the following areas: Employment and Labor Practices, Environmental Stewardship, Community Engagement, and Corporate Governance.
The Corporate Citizenship Awards raised awareness about the ways in which good corporate citizenship benefits Cambodian businesses. They also highlighted good practices internationally and in Cambodia; encouraged adoption of good practices more widely (especially to enhance global competitiveness); and highlighted the assistance that IFC, IFC-MPDF, and others can provide to companies that want to become better corporate citizens.
