Repy to in 175 words
Chile and Corruption
My international business term paper involves a company’s expansion to Chile. I hadn’t researched nor considered corruption when deciding on this country but fortunately, Chile is one of the least corrupt countries in Latin America. It was reportedly the second most transparent Latin American country in 2017 (Santiago Times, 2018), and has proven effective measures for investigating and punishing corruption. After a rash of corruption cases in 2015, Chile is still actively investigating and legally admonishing those found guilty of violating Chile’s laws against bribery and money laundering. There is a low risk of corruption regarding the police force, bribery, tax administration and public services due to strong and well enforced anti-corruption legislation.
This is a welcoming environment for companies seeking foreign direct investment opportunities. Because what is (un)acceptable is widely known and enforced, the political risk factor is low. Companies should have established compliance policies that align with the home country and Chile’s legislation.
References
Santiago Times. (2018, February 22). Chile drops two spots in corruption index; 2nd most transparent in Latin America. The Santiago Times. Retrieved from https://santiagotimes.cl/2018/02/22/chile-drops-two-spots-in-corruption-index-2nd-most-transparent-in-latin-america/