On 28 April 2014 at “The impact of the shadow economy: punishment or prevention” conference in the Government Palace, Prime Minister Algirdas Butkevičius awarded certificates to newly acceded businesses at the “White Wave member of the Investors” forum initiative for transferred companies. Grigiškės AB was one of them.
The certificate was received from the hands of the Prime Minister by Gintautas Pangonis, President of Grigiškės AB, who was happy that the group of companies had joined the initiative and ensured that the transparent work of the group of companies would continue in the future.
The White Wave initiative
The main objective of this initiative is to promote transparent business practices in Lithuania. Companies engaged in this movement are not limited to acting transparently, but to also encourage other market participants to follow their model:
• to transparently participate in tendering procedures (public procurement) without bribing organisers and jury members, and without using illegal financial and non-financial measures to their undue advantage against other participants
• to comply with the laws of the Republic of Lithuania and pay all taxes
• to transparently pay their employees.
The White Wave initiative was founded in 2007, and it currently unites more than 55 companies representing large, medium and small businesses.
The members of the White Wave are issued a transparent business sign which is known and recognized by the public, business community and media. It marks products, information material or administrative documents to remind everyone that the company is a model in implementing transparent and fair business principles in Lithuania, and stands for ethical business standards, thereby symbolising the company's ongoing concern for its reputation.
The initiative for transparent business was launched by the Investors Forum association, the Civil Society Institute, the United Nations Development Programme in Lithuania, Transparency International Lithuanian division, Dalios Sąskaita civic society and the Lithuanian Business Support Agency. The White Wave patron is the President of the Republic of Lithuania, Her Eminence Dalia Grybauskaitė, and the project is supported by the Ministry of Finance and the State Tax Inspectorate.