The overall level of transparency is inadequate. There are no provisions to ensure that CSOs publish their annual reports and accounts, information on their internal structure and sources of funding.
BUSINESS
Key strengths The legal framework provides an environment which is conducive to the effective operation of the business sector. A considerable number of businesses are active in corporate responsibility initiatives. Some business associations perform an important watchdog role. Key weaknesses Administrative procedures to start and operate a business are bureaucratic, lengthy and timeconsuming. Transparency is weak. There are some disclosure rules for businesses to make accounts and other information publicly available, but they are not comprehensive. Integrity and accountability is not ensured sufficiently throughout the business sector. There is no competition authority in place to enforce fair competition and to investigate cartels, approve or reject mergers and acquisitions, and promote competition through the publication of guidance notes and other advocacy activity.
RECOMMENDATIONS While the run-up to the constitutional changes in 2010 has strengthened the legislative framework for anti-corruption and governance, this framework is not yet complete. The recommendations of this assessment thus include some specific recommendations to address some of the most prominent of these legislative loopholes. This is not to suggest the need for another major legislative overhaul or the introduction of another institution. Indeed, what should be of prime interest today in Curaçao is to improve the degree of implementation of existing legal requirements. This involves working on the performance and internal governance of the 14 pillars, and the detailed recommendations that follow offer several specific recommendations to help enhance that performance. At a more general level, the key recommendations to highlight are as follows:
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NATIONAL INTEGRITY SYSTEM ASSESSMENT CURAÇAO