Australian companies are advised to spend time investigating the market, obtain professional advice where appropriate and thoroughly investigate the issues in entering the market and before establishing business relationships.
Australian firms wishing to operate in this market should commit to the highest level of corporate behaviour and familiarise themselves with Australia's laws and penalties pertaining to bribery of foreign officials.
Bribery of foreign public officials is a crime. Australian individuals and companies can be prosecuted in Australia for bribing foreign officials when overseas. Further information on the regulations governing bribery of foreign public officials is available.
For further information on frauds, scams, personal and asset security, intellectual property protection and other business risks please read more about legal issues.
The instability of economic policies and regulations with regard to foreign investors could slow the necessary modernisation of production capacity. Some business risks include:
- deficient infrastructure
- energy shortages
- high inflation
- a depreciating currency
- a shortage of skilled managers and workers in some sectors
- dependence on China as a buyer for its mineral commodities
- travel restrictions have been applied to foreigners in several cases
- payment delays.