Transparency for inclusiveness / Singapore construction business / Thai corruption cost
Transparency is key to inclusive employment and government integrity. “According to the Global Competitiveness Report….“corruption interferes with the allocation of resources to their most efficient uses and undermines growth in five main ways (citing three): it leads to a misallocation of human capital, because talent is incentivized to engage in rent-seeking activities rather than productive work; it results in loss of tax revenue; it pushes inappropriate public spending, because government officials are tempted to allocate expenditures less on the basis of promoting public welfare than on the opportunity they provide for extorting bribes”.
Silvia Moschini, World Economic Forum: https://www.weforum.org/agenda/2019/04/transparency-is-key-to-inclusive-employment-and-government-integrity/
Construction, building maintenance activities 'areas of concern' in Singapore’s fight against corruption. Two construction industry business leaders bribed a former Resorts World Sentosa director with approx. US$220,000 in order to advance their business interests, but they were eventually found out by the Corrupt Practices Investigation Bureau (CPIB).
Hopewell saga reveals true cost of political corruption (Opinion). When politicians and bureaucrats are corrupt or incompetent or both, taxpayers are the ones who suffer most. This was amply demonstrated by the Supreme Administrative Court’s latest ruling that the State Railway of Thailand (SRT) must pay Bt11.88 billion (US$371.35 mil) in compensation plus interest to the Hong Kong-based Hopewell Company.