Foreign companies bring corruption to Ukraine

8 November 2013 09:02  11050217 050978
Foreign companies bring corruption to Ukraine

Corporations from developing countries bring corrupt corporate culture to Ukraine.

This is stated in the new study of the Transparency International "Transparency in Corporate Reporting: Assessment of International Companies in Developing Countries," "" informed.

"At a time when Ukraine is on the verge of deciding on the vector of integration with the European Union or Customs Union, the Transparency International survey shows high corruption in international business corporations, including Russian and Chinese ones," - the statement reads.

Thus, the organization conducted a study and made a rating of one hundred fastest growing companies operating in the markets of the sixteen countries with developing economies. The companies are ranked from zero to ten points. The highest score was given to companies with the most transparent reporting, zero - to the most closed businesses.

Negative scores in the study were given to such Russian companies having business in Ukraine as "Gazprom", "Alfa-group" (represented in Ukraine by "Alfa Bank"), "Lukoil" and others. Experts estimated the degree of disclosure of information on financial transactions of "Gazprom" at 0%, which largely caused relatively low rating.

The lowest ranking positions among Russian companies are occupied by "Severstal" - 3 points, "Alfa-group" - 2.7 points and "Lukoil" - 2.2 points. More than a third of companies in the list are from China. They showed the worst results both among BRICS countries, and in the whole ranking: most of the companies in the bottom of the list are Chinese ones.

Thus, the car manufacturer Chery Automobile received 0 points and is at the bottom of the list along with Mexican Mabe. Indian telecom company Tata Communications, which received 7.1 points, has the best result.

The ranking was determined on the basis of three indicators: reporting on anti-corruption programs of the company, its transparency and disclosure of information on financial transactions to state authorities. The report was compiled using open data.

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