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Corruption

Corruption

US chambers of commerce in the region have called on ASEAN nations to draft a

regional agreement to fight corruption. In a statement released November 1, the

so-called AmChams said corruption was a "major disincentive" to US investors. US

companies are bound by the provisions of the Foreign Corrupt Practices Act,

which forbids the bribing of foreign officials. Companies from many other

countries are not similarly restricted. Bretton Sciaroni, the head of the

American-Cambodian Business Council, said the idea behind the statement was "to

plant the seed" of an agreement. The AmChams of Cambodia, Indonesia, the

Philippines, Singa-pore, Thailand and Vietnam represent investments totaling

around $50 billion.

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