Corruption 'cancer' hits investment | Bangkok Post: business

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Corruption 'cancer' hits investment

Thailand at risk, says ex-Asean chief Surin

  • Published: | Viewed: 673 | Comments: 1
  • Newspaper section: Business
  • Writer: Nop Tephaval
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Thailand stands to lose out on foreign direct investment if the second-largest Southeast Asian economy does not seriously address corruption, says former Asean secretary-general Surin Pitsuwan. 

"The cost of doing business in Thailand is already 30% higher [because of corruption] before anything can begin. This affects Thailand's image and competitiveness in the region," he said.

However, Thailand Development Research Institute (TDRI) on its website suggested that corruption may be as high as 50% of business costs.

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