Corruption Sees FDI Falling

August 2005
Asia Monitor: South East Asia Monitor Volume 1;Aug2005, Vol. 16 Issue 8, p6
Country Report
Country Report
The article reports on the decline in foreign direct investment (FDI) into Cambodia by 8.4% in 2004. Government officials refused to explain the reasons behind the fall in FDI from US$230 million last year to US$251 million in 2003. However, in a news conference, the outgoing U.S. ambassador to Cambodia, Charles Ray, said that corruption and legal risk were the main reasons for decreasing FDI. One factor behind the drop in FDI last year was the expiry of the Multi-Fibre Arrangement (MFA). Under the protection of the MFA, Cambodia's garment sector grew from nothing in the mid-1990s to an industry which employs more than 250,000 in 2004.


Related Articles

  • LA labor probe uncovers homework items for Guess. Ellis, Kristi // WWD: Women's Wear Daily;7/31/1996, Vol. 172 Issue 21, p4 

    Reports on the discovery of Guess and XOXO-labeled apparel produced illegally by home workers by state investigators in Los Angeles, California. Leads on the discovery from the Union of Needletrades, Industrial and Textile Employees; Guess Inc. as an example of the failure of in-house...

  • Federal SA probe still on, but arrests not `in near future'.  // WWD: Women's Wear Daily;2/28/1995, Vol. 169 Issue 39, p2 

    Reports on federal agents' continuing investigation of alleged bribery in New York City's garment center.

  • Milan prosecutor asks 17 months for Versace, Mandelli and Ferre. Conti, Samantha // WWD: Women's Wear Daily;3/20/1997, Vol. 173 Issue 53, p9 

    Focuses on a bribing and corruption case against designers Santo Versace, Mariuccia Mandelli and Gianfranco Ferre in Milan, Italy. Details and background of the case; Summation of the case by the prosecutor; Prosecutors' comments on the testimonies of the accused parties.

  • 20 makers to get subpoenas on L.A. sweatshop. Farr, Louise // WWD: Women's Wear Daily;8/14/1995, Vol. 170 Issue 29, p24 

    Reports on the California State Department of Industrial Relations' issuance of subpoenas to manufacturers whose names have surfaced in connection with the El Monte sweatshop raid on August 2, 1995. Number of workers released from slave-like working conditions; Arrest of Thai nationals as the...

  • Probe into mob might also aim at apparel union. Edelson, Sharon; Friedman, Arthur; Feitelberg, Rosemary // WWD: Women's Wear Daily;4/30/1998, Vol. 175 Issue 82, p1 

    Focuses on the mob activity in the fashion industry in 1998 in the United States. Implication of the mob to the apparel union; Details on the indictment of men charged with extortion of garment firms; Information on the organized crime in the garment industry. INSET: McGuire: More probes...

  • Feds: N.Y. cutters will be hearing from grand jury. Wilner, Rich; Siegel, Jeff // WWD: Women's Wear Daily;12/8/1994, Vol. 168 Issue 111, p2 

    Reports that New York City federal authorities involved in the two-year garment center sting operation plan to issue grand jury subpoenas and criminal charges against midtown cutting contractors operating in the area. Results of the federal probe; Details on the conduct of the sting operation;...

  • U.S. attorney gets tip-offs on pay-offs.  // WWD: Women's Wear Daily;2/8/1995, Vol. 169 Issue 26, p2 

    Reports on the influx of reports on commercial bribery in the clothing trade to the Office of the United States Attorney General. Result of the J.C. Penney graft case; Prevalence of graft in the fashion industry.

  • ...And Their Vulnerability to Fraud. Weitzman, Jennifer // WWD: Women's Wear Daily;7/17/2000, Vol. 180 Issue 9, p17 

    Focuses on how executives of apparel companies in the United States view their companies' vulnerability to fraud. Conviction of former Leslie Fay chief financial officer Paul Polishan on federal fraud charges; Types of companies that are more at risk; Earnings management; Amount that business...

  • U.S., Europe roll.  // WWD: Women's Wear Daily;3/17/1998, Vol. 175 Issue 50, p4 

    Reports on the stock markets of apparel manufacturers in Paris, France, Tokyo, Japan, Hong Kong, Milan, Italy, London, England Frankfurt, Germany and New York, New York. Closing values of the stocks of fashion companies at the exchange in Milan; Companies that performed well at the Frankfurt...


Read the Article


Sign out of this library

Other Topics