'Terrorism, piracy threaten US firms in Asia'
The effects of transnational terrorism were apparent across Asia, causing private sector interests to operate at the highest levels of security, says report.india Updated: Dec 28, 2006 12:26 IST
Terrorism and copyright piracy were among top security challenges that confronted American businesses in Asia in 2006, the State Department said in a year-end security analysis.
US businesses had to step up spending to protect facilities and staff in the region due to the terrorism threat, said the review by the Overseas Security Advisory Council (OSAC) on Wednesday, a joint government-private agency promoting security cooperation.
"The effects of transnational terrorism were apparent across Asia, causing private sector interests to operate at the highest levels of security, using resources that could be used in other ways and affecting investment," it said.
The report added that the US private sector faced the "most intense threat" of intellectual property rights-related commercial losses in India and China, Asia's two largest players on the international business stage.
The report mentions that insurgency groups such as India's United Liberation Front of Assam and Southern Thailand's ethnic Malay-Muslim separatist movement "continued to cause concern" for US private sector interests.
It also said that typhoons, earthquakes and other natural disasters, including in Japan, the Philippines and India, created
risks for facilities and employees of US private sector groups.
On political instability, the OSAC referred to the military coups which led to the ouster of elected governments in Thailand and Fiji, saying they caused "the US private sector to reconsider the risk on their investments.
First Published: Dec 28, 2006 12:26 IST