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Privatization could increase corruption in the Gulf

Writing for Arabianbusiness.com, Sarah Townsend warns that privatization could increase corruption in the Gulf. “This is of concern at a time when Gulf states are hoping to privatize state-dominated sectors such as telecoms, mining and oil and gas, [Sheila Shadmand, partner-in-charge at the Dubai office of US law firm Jones Day] warned. Such industries rely upon the awarding of licences to third parties, and privatization that is not properly regulated could see decision-makers sell off parts of government, or hand out contracts, in ways that reward cronies and benefactors. This trend has been well documented in the past, for example in countries such as the US, Russia and India, Shadmand added.”

Source: peopleoverprof.it