Business employers say corruption greatest threat to economy
Corruption remains the most significant challenge facing Cambodia’s economy, according to a survey of more than 300 employers conducted last year by the International Labor Organization (ILO), the results of which were released Tuesday. Despite legislation meant to stamp out graft, corruption continues to be perceived as the greatest threat to business in the country, according to the ILO report, titled “Enabling Environment for Sustainable Enterprises (EESE).” … “The World Economic Forum has noted corruption as the single most problematic factor hindering doing business in Cambodia as of 2012, and according to estimates, 10 percent of Cambodia’s annual GDP [gross domestic product] is lost to corruption,” the report continues. Applying this estimate to the World Bank’s predicted GDP for Cambodia of $17.2 billion in 2014, more than $1.7 billion will be funneled out of the economy by corruption this year. …
Colin Meyn
http://www.cambodiadaily.com/news/business-employers-say-corruption-greatest-threat-to-economy-53963/
