The world’s largest electronic components manufacturer, Intel, has pledged to build its $1 billion factory in graft-ridden Vietnam without corruption. The company has even signed an anti-corruption agreement with state-owned Saigon Hi-Tech Park (SHTP), where its largest chip plant will be located.

Transparency International considers Vietnam, the second fastest growing economy in Asia after China, one of the world’s most corrupt countries. Last year, the watchdog’s corruption perceptions index ranked Vietnam 123rd out of 179 nations.

Property, construction and government contracts are reportedly riddled with bribery. And aid agencies, which have pledged $4.4 billion to Vietnam for 2008, have often complained about money disappearing. In one scam, in April 2006, transport ministry officials handling World Bank projects were caught betting millions of dollars from project funds on European football matches.

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