AKIPRESS.COM - The Memorandum of Understanding was signed between the Erdenes Mongol LLC and the ISO Mongolia LLC, Montsame reports.

The standard for ‘Anti-bribery management system, requirements and terms of use’ to promote the fight against corruption adopted by the International Standardization Organization to be introduced within the framework of the memorandum. The Erdenes Mongol LLC is introducing the standard, which plays important role in decreasing the corruption index of Mongolia,reducing risks of the corruption in organizations and participating in international projects and programs.

“Introducing this standard will result in improved management and financial efficiency, increased profits, transparency of procurement process and activities of the organizations, as well as gaining investors’ confidence when the IPO is planned and increased market values of companies”, said the CEO of the Erdenes Mongol LLC, Ts.Tumentsogt.

The International Standardization Organisation noted that “The MNS ISO 37001:2017 standard was approved by the resolution 5 of February 23, 2017 of the National Standardization Council of Mongolian Agency for Standard and Metrology, enforcing green light for anti-bribery standards.”