Corruption in business deals deters investment in Asia-Pacific region
Thursday, 27 November 2008
FE Report
Corruption in business transactions decreases competition, deters investment, and increases the cost of goods and services in the Asia-Pacific region.
Attendees at the 6th Regional Anti-Corruption Conference for Asia-Pacific - which kicked off Wednesday morning in Singapore - will discuss strategies and mechanisms for addressing the "supply side" of corruption from the perspectives of the public sector, private sector and civil society.
The regional conference is sponsored by the Asian Development Bank (ADB)/Organisation for Economic Co-operation and Development (OECD) Anti-Corruption Initiative for Asia and the Pacific; it is hosted by the Government of Singapore.
Senior anti-corruption officials and other government representatives from the Asia-Pacific region; leaders of NGOs and other organizations involved in the fight against corruption in the region and worldwide; key stakeholders from the private sector, civil society and the media; and experts from the OECD Working Group on Bribery and the ADB membership are participating.
This Conference takes a broad view and will explore mechanisms for reducing corruption that involve cooperation amongst stakeholders - public, private and civil society. In particular, it will focus on the "supply side" of corruption which often takes the form of bribes paid by the private sector.
Corruption in business transactions decreases competition, deters investment, and increases the cost of goods and services in the Asia-Pacific region.
Attendees at the 6th Regional Anti-Corruption Conference for Asia-Pacific - which kicked off Wednesday morning in Singapore - will discuss strategies and mechanisms for addressing the "supply side" of corruption from the perspectives of the public sector, private sector and civil society.
The regional conference is sponsored by the Asian Development Bank (ADB)/Organisation for Economic Co-operation and Development (OECD) Anti-Corruption Initiative for Asia and the Pacific; it is hosted by the Government of Singapore.
Senior anti-corruption officials and other government representatives from the Asia-Pacific region; leaders of NGOs and other organizations involved in the fight against corruption in the region and worldwide; key stakeholders from the private sector, civil society and the media; and experts from the OECD Working Group on Bribery and the ADB membership are participating.
This Conference takes a broad view and will explore mechanisms for reducing corruption that involve cooperation amongst stakeholders - public, private and civil society. In particular, it will focus on the "supply side" of corruption which often takes the form of bribes paid by the private sector.