That both the Qatar and the UAE scored enviable marks in the Corruption Perception Index – organised by Transparency International – will come as welcome news to the region.
Where they ranked
The UAE came 25th out of the 175 nations surveyed. Qatar came joint 26th – the same position as Estonia and France. The UAE was found to have been voted the least corrupt country in the region – the Middle East and North Africa.
The index itself received considerable global media coverage in its most recent annual scrutiny of 175 nations.
On a scale of 100 (with 100 being the best) the UAE scored 70 – a creditable result. When you consider that the UAE is only 43 years old as a nation it seems all the more impressive.
Qatar wasn’t too far behind either with a score of 69 – only five points behind the USA.
Corruption is still a global issue
Denmark came up top trumps in the survey with the Scandinavian countries close behind. What was more striking was the level of corruption in some of the major countries in the world.
Russia, China and India all ranked in the bottom half of the tables with the results suggesting that these governments lacked the same level of transparency.
A plethora of sectors affect the rankings including governments, police and the bureaucracy.
Certainly, it can be said that the results of the index will continue being discussed for some time to come.
What this means for the region
This is certainly positive news for both Qatar and the UAE; it points to these two nations’ concern for its citizens as much as their transparency.
Moreover, it confirms the fact that the UAE and Qatar are places that are open for people across the world to do business.
The good governance of these two countries ultimately has created highly favourable conditions for investors. This is reflected in the nations’ continued prosperity which is firmly grounded on a solid economic model.
Ultimately though, I believe that the continued inward investment to these two countries will prove to be the best indicator of all.
James Swallow is Commercial Director of Middle East based PRO Partner Group. PRO Partner Group specialises in providing foreign investors with a seamless and financially efficient means to setting up a profitable corporate presence in the UAE, Qatar and Oman.