One of the by-products of regional uncertainty and the Arab Spring has been the steady rise in oil prices. And this added revenue has helped rapidly fill state coffers. Today, some of the GCC countries are putting that revenue to task in mega-billion projects across the land.
In Saudi Arabia alone, it is estimated that more than $77 billion (Dh288.8 billion) has been allocated for major projects which include the setting up of industrial cities and massive infrastructure development across the country. With that kind of money floating around, it has become very tempting to be seduced into the arms of corrupt business practices.
It should be noted that corruption has been one of the elements that served as a springboard to the Arab Spring. And we have not been immune to it. Perhaps, the most public example was brought up following the Jeddah rains in 2009 which caused the deaths of over 130 people by the resulting floods. It was determined that bribery played a major part with city officials granting housing permits illegally on city land not zoned as residential areas.
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