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GlobalTech Solutions, a multinational engineering firm, is expanding its operations into the Republic of Eldoria, a country known for its complex regulatory environment and a high incidence of corruption, as reported by Transparency International. Initial risk assessments, conducted according to ISO 37001:2016 guidelines, have identified Eldoria as a high-risk region for potential bribery and corruption due to weak enforcement of anti-bribery laws and pervasive demands for facilitation payments. The assessment also highlighted that several local suppliers lack formal compliance programs and are suspected of engaging in unethical business practices. Considering GlobalTech\'s commitment to upholding the highest ethical standards and maintaining compliance with ISO 37001:2016, what is the MOST appropriate and comprehensive action GlobalTech should take to mitigate the identified bribery risks associated with its operations in Eldoria?
Implement enhanced due diligence procedures for all business partners and suppliers in Eldoria, provide targeted anti-bribery training to employees and local partners, establish a confidential whistleblowing mechanism, and conduct regular audits of operations in Eldoria.
Develop a general anti-bribery policy applicable to all regions, including Eldoria, without specific adaptation to the local context, and rely on existing internal audit procedures to detect any potential bribery incidents.
Limit operations in Eldoria to low-value projects to minimize potential financial exposure to bribery risks, and delegate responsibility for anti-bribery compliance to local management without providing additional resources or training.
Publicly announce GlobalTech's commitment to anti-bribery principles in Eldoria and rely on the Eldorian government to enforce anti-corruption laws, without implementing specific internal controls or monitoring mechanisms.