How International Firms in 2020 Deal with Transparency in Thailand

For global firms who are looking to invest in Thailand, the spectre of corruption continues to be a leading concern. The current military government, which rose to power in 2014 in a bloodless coup, had pledged to stamp out unethical business practices. Yet, for ordinary Thai citizens, the mood isn’t optimistic. There are increasing concerns that nowhere near enough is being done to make good on that promise. And it’s a concern that global firms should (at least) be aware of.

Thailand is the second-largest economy in the Association of Southeast Asian Nations (ASEAN), however. That status makes the country hugely attractive for foreign investment – not least for countries who want to scale back their reliance on China. But operational and reputational risks still exist for firms who plan to invest in Thailand. For the most conscientious…