Dubai's fight against corruption is commendable

Dubai continues to set novel standards for regional countries in terms of business and best practices.

Last week, Dubai was the first in the GCC to declare an open-ended war on corruption in public and private sector establishments.

Adding to intensity of the move is the determination to publish names and associations of individuals charged with corruptive practices. The move could herald a new culture of zero tolerance towards corruption.

Annually, the audit bureau looks into accounts of some 250 companies wholly or partially owned by Dubai Government. It seems that officials are now paying a lot of attention to companies engaged in real estate projects. Needless to day, even a small kickback could turn out to be a sizable figure in the light of ever rising property prices.

The latest drive could enhance the country's ranking on the Corruption Perception Index (CPI). Berlin-based Transparency International has been publishing CPI since 2003

The CPI is measured on a scale of 0 to 10, with higher numbers indicating less corruption. According to the 2007 report, Denmark, Finland and New Zealand together are regarded as the most transparent economies in the world by scoring 9.4 out of the maximum 10 points index.

The index is compiled on the basis of several surveys and polls. Reviewed economies earn points based on perceptions expressed by business and academic professionals concerning ways of doing business in various countries.

In 2007, Qatar overtook the UAE for the best result among Arab countries on CPI.

Qatar topped the GCC list having scored 6 on the 10-point scale, thereby enabling it to clinch spot number 32 in the world.

In fact, Qatar achieved the same results in terms of points and ranking in 2006 report.

However, it was the UAE's retreat that allowed Qatar the chance to outperform fellow GCC member states.

The UAE scored 5.7 points, down from 6.2 in 2006. The UAE emerged No 34, down from No 31 in 2006 report, the second best among Arab countries.

Dubai should emerge a winner from the latest determination to combat corruptive practices at all levels.

Powerful message

The zero tolerance policy towards corruption carries a powerful message that the authorities have no mercy for corrupt individuals and firms.

Undeniably, corruptive practices have no borders and could take place anyplace in the world.

However, the challenge lies in prosecuting corrupt individuals, and denying them the opportunity of benefiting from wrongdoing.

Fellow GCC governments need to follow the UAE's drive in combating corruption for good reasons. The urgency partly relates to increasing size of GCC economies on the back of firm oil prices.

For the first time, the nominal size of gross domestic product (GDP) of six-nation GCC stands to cross $1 trillion level by end of 2008.

GCC public spending is estimated at $300 billion. Still, private sector investors are expected to spend a hefty $2 trillion by year-end.

Undoubtedly, there are individuals who like to become rich overnight through wrong practices. Yet chances for unlawfully earning money have never been better with GCC economies undergoing extraordinary growth rates.

Hence the need for bringing about a new culture that would make corrupt people pay for their crimes against the society.

- The writer is a Member of Parliament in Bahrain.