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Control Risks: â€œOil, gas, mining and construction industries are the most vulnerable to corruptionâ€?

11 October 2006 15:49 (UTC +04:00)

The sectors of the economy most vulnerable to corruption globally are the oil, gas, mining and construction industries, because of the high value of the projects, says the report by international risk consultancy Control Risks and law firm Simmons & Simmons. Businesses in Hong Kong were the most affected by corruption
â€œCorruption continues to be a huge international issue and honest companies are still losing out to dishonest competitors on a large scale,â€? said the reportâ€™s author John Bray.
Business leaders estimated bribes paid could sometimes amount to almost half the total cost of a deal.
Most companies said that they would be put off from investing in a country that had a bad reputation for corruption. /APA/