Thai Chamber Of Commerce To Start War On Corporate Graft Next Month

[webfact]

War on corporate graft next month

By The Nation

The Thai Chamber of Commerce has set June 1 as D-Day to start combating corruption.

The chamber will join hands with 21 private organisations and anti-corruption agencies to push the proposal on the national agenda. Chamber chairman Dusit Nontanakorn said yesterday that Thai companies should embrace the proposal as a key management policy.

In addition, the University of the Thai Chamber of Commerce will also closely monitor developments by publishing a "corruption index" every six months.

"Currently, corruption is quite high, with payments reaching 30 per cent compared with 2-3 per cent in the past. They are not ashamed of that and the rate will increase to 50 per cent if we do nothing now," Dusit said.

Thawatchai Yongkittikul, secretary-general of the Thai Bankers Association, said Thailand's competitiveness had continuously dropped, reaching the bottom levels this year, mainly because of the impact of corruption.

"Corruption has also pushed up production costs and undermined foreign investors' confidence," he said.

-- The Nation 2011-05-20

[Thailand]

Good luck on that one.

It's an ingrained way of life here. Not going to change anytime soon.

[hoaker]

This is the Thai way and it will never change. Commerce Chamber should focus on Enron companies in thailand ran by foreign ownership. Strict and in depth due diligence will reveal sales to paper companies abroad with no occurence of a real transaction.

[featography]

This is the Thai way and it will never change. Commerce Chamber should focus on Enron companies in thailand ran by foreign ownership. Strict and in depth due diligence will reveal sales to paper companies abroad with no occurence of a real transaction.

going to start it next month? Why not start RIGHT NOW

[pisico]

This is the Thai way and it will never change. Commerce Chamber should focus on Enron companies in thailand ran by foreign ownership. Strict and in depth due diligence will reveal sales to paper companies abroad with no occurence of a real transaction.

More Xenophobia?

Kick foreign companies out?

Better the current "Thai way" (which is not ideal) than the approach of focusing "only" on foreign companies.

The focus should be on heavily penalizing government officials accepting bribes from companies, multinational or Thai.

Only then corruption will be minimized.

[jomtienbob]

they should be focusing on Govt departments like the Thai FDA!! Extortionists in the extreme

[Arkady]

This is the Thai way and it will never change. Commerce Chamber should focus on Enron companies in thailand ran by foreign ownership. Strict and in depth due diligence will reveal sales to paper companies abroad with no occurence of a real transaction.

A similar exercise on Thai companies listed on the SET would reveal that many leading families have undisclosed shares in their own companies held through offshore structures. This enables them to insider trade their own stocks at will, avoid reporting going over or below reportable trigger limits and even avoid making mandatory general offers.

[FOODLOVER]

June 1st! good one!

[dunkin2012]

June 1st! good one!

new version

" Thai June Fools " June 1st ...

i would say Good shot but won't work.

increase to 50% the whole system is corrupt.

"corrupt society"

need to adopt the Chinese system "corruption is a serious crime" Death penalty

[GiantFan]

they should be focusing on Govt departments like the Thai FDA!! Extortionists in the extreme

Agree. Import beauacracy to bring in F&B is so over the top. Thai products go into the USA with little extra testing, etc.... Spoke to the US trade rep, but too small to worry about. Thai's can also purchase property in the US, go figure.

[KeyserSoze01]

The Chamber of Commerce has little or no authority over legal matters. The only thing this will do is generate tea money of CC officials who wag their finger at companies suspected of malfeasance.

Amazing Thailand.

[IanPrince99]

What corruption? Corruption has been abolished since Thaksin got booted by the army boys. This government is as clean as Mark himself.

[pac4155]

Stop the corruption at the top and bottom and meet in the middle. When I tried to extend my tourist visa at the Khon Kaen Immigration Office recently, now that I have a Thai wife, the petty female official there tried to charge us 2000 THB tea money to send the paperwork to the Udon Thani office where my wife's birth is registered. She didn't get the money.

Speak out in a loud voice and embarrass them, ask for their name and demand to speak to their superior. Little by little you can make a difference.

[slapout]

The statement that corruption in the old days was 2 to 3 % would be a good indication of how little real knowledge the Chamber members have or profess to have. Their projection????? of 50% in the future???? would lend support to my initial opinion.