Presentation by Minister Ursell Arends:
Integrity is considered the essence of real success that determines the character of a whole nation. In a continuous and permanent way, it focuses on safeguarding and promoting actions and thoughts with integrity within our community, on all levels.
Good corporate governance is not something that is being done to us. It is something we must do together with intent. Good Governance, in short, is the responsible conduct of public affairs and management of public resources. In the last decades there have been several frameworks set with key principles that can and are to be used in strategy development and implementation of Good Governance, on a local level.
Among some of the principles are the issues of transparency, ethical conduct, rule of law, efficiency, and effectiveness. I think we can all agree that in the past decades there have been integrity failures in government. But as civil servants, we have the responsibility to go beyond simply just using the words “Integrity” and “Good Corporate Governance.” We have the responsibility to practice good governance.
It is the primary purpose and responsibility of the government to establish and strengthen the functioning of our democracy, which includes working towards restoring faith in our public administration.
Implementing Good Governance in all aspects and on all levels of the public administration is a process that is going to take time. However, it is a necessity, and I am positive that we are on the right path by introducing and applying integrity and Good Governance laws.
The World Bank and the council of Europe apply different key principles that can be used to measure good governance in a country. Participation, rule of law, transparency, responsiveness, consensus-orientation, equity & inclusiveness, effectiveness & efficiency, and accountability.
I would like to add 3 principles that I feel are also relevant to consider:
1. Reflection of Corporate Culture; corporate practices reflect corporate culture.
2: Values; that govern the boardroom should not differ from the values that guide the executive level
3. Good Corporate Citizenship; which consists of doing no harm in the communities where you practice, as well as bringing a positive change.
Alone, we cannot restore faith in the public administration, democracy nor government. This is a challenge that all stakeholders share, which is why I believe it’s up to all corporate leaders to help resolve it. Most importantly, in my view, is the understanding that good corporate governance is not something that is being done to us. It is something we must do together with intent.
The values we are being asked to live by are the same fundamental values we know we must act upon every day to build effective leadership and strengthen community bonds. It is my sincere belief that the path to a better future is by focusing on these fundamental principles. There simply is no substitute.
Therefore, it is of utmost importance for commissioners, supervisors, directors and board secretaries to not only participate in this program but also live up to good governance principles, so you can contribute to a higher level of integrity in Aruba.
The structural promotion of integrity is a matter that requires continuous effort, an effort that we are committed to keep making.
Two essential legislative projects in the works are the Landsverordening Corporate Governance and the Corporate Governance Code. These concepts have been created by the Commissie Corporate Governance, in cooperation with the Themis Institute, professor Kunneman, and my Bureau. Before the government initiates the formal legislative process for these laws, we want to hear from you. We want the stakeholders, those who will apply the laws, to participate and give their feedback, so that together we can come to effective corporate governance laws. I am sure that within this group, those present here today, there is knowledge, experience, creativity, and ambition that can be utilized in a consultation process regarding the Landsverordening Corporate Governance and the Corporate Governance Code.
So, stay pending for further announcements and invitations, and I encourage all those that can participate to do so, thereby contributing to Good Corporate Governance in Aruba.
I would like to conclude by giving thanks to the NR Governance (NL) and VANEPS (AUA) for organizing the Good Governance Program in Aruba.
With the start of todays “Responsibility & Accountability” program, we affirm our commitment to change. Change in the course of time to start to integrate and apply actions with Integrity in the way we choose to govern our country.
Change in the right direction.
Presentation by Minister Ursell Arends, 1 september 2022
