12th in 2006, Singapore businesses less likely to offer bribes abroad now
By
Joyce Teo
SINGAPORE businessmen are now less likely to offer bribes when they do business abroad than they were two years ago, a new ranking has found.
The Republic's businessmen have been ranked the ninth least likely to bribe in an index looking at companies from the world's 22 most economically influential countries and territories.
LAW ENFORCEMENT IS KEY
'The inequity and injustice that corruption causes make it vital for governments to redouble their efforts to enforce existing laws and regulations on foreign bribery and for companies to adopt effective anti-bribery programmes.'
Transparency International chairman Huguette Labelle
Singapore firms' rating was 8.1 points out of 10, a significant improvement from 6.78 in the last survey two years ago when they were ranked 12th. A perfect 10 would indicate no corruption.
Belgian and Canadian firms were ranked the least likely to bribe abroad while Russian companies were the most likely to do so, according to the 2008 Bribe Payers Index released yesterday by Transparency International.
The watchdog said the index showed that companies based in the emerging economic giants - China, India and Russia - are perceived to routinely engage in bribery abroad.
Russian firms scored 5.9, China scored 6.5 while India scored 6.8.
Singapore shared the ninth spot with the United States and France. Belgium and Canada had the best score of 8.8.
The fact that no country had a clean 10 means that all of the world's most influential economies were viewed as exporting corruption to some degree, said Transparency International.
'The inequity and injustice that corruption causes make it vital for governments to redouble their efforts to enforce existing laws and regulations on foreign bribery and for companies to adopt effective anti-bribery programmes,' said its chairman Huguette Labelle.
This year's index is based on interviews with 2,742 senior business executives from 26 countries and territories which account for about 75 per cent of total foreign direct investment outflow and the export of goods worldwide.
The previous index - which ranked 30 leading exporting countries - was done in 2006. Switzerland was ranked first that year, with a score of 7.8, while India was last with a 4.62 score.
Transparency International also ranked sectors where firms were most likely to bribe public officials as well as the degree to which firms exerted undue influence on government policies, laws or regulations.
Its survey showed that public works and construction companies were the most corruption-prone when dealing with the public sector, and most likely to exert undue influence on the policies, decisions and practices of governments.
Governments have a crucial role to play in ensuring that foreign bribery is stopped at the source, the body said.
'The unfolding financial crisis has shown us just how integrated the world's markets have become.
'Accountability must be guaranteed across borders, include improved risk management and reach all the way down a company's supply chain,' said its managing director Cobus de Swardt.
