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January 17, 2012

Business Report Thailand: David Lyman and Michael Ramirez Discuss Corruption

Business Report Thailand

Transparency International’s annual corruption perceptions index ranks Thailand 80th out of 182 countries for its perceived level of public-sector corruption. In its January 2012 issue, Business Report Thailand discussed the corruption challenges that Thailand faces with David Lyman, Chairman and Chief Values Officer, and Michael Ramirez, Consultant, of Tilleke & Gibbins.

Michael said that systemic change—from the education system upward—would be required to see a meaningful decline in the level of corrupt activity in Thailand. But compared to some of its neighbors, such as Cambodia and Laos, Michael feels that Thailand remains a viable place for foreign investors to do business while maintaining compliance with the U.S. Foreign Corruption Practices Act.

David concurred, offering a very pragmatic view: “Corruption is here to stay to one extent or another. The trick is to harness it and keep it within reason.”