UAE News Today : Politics

Dubai approves AED 40 billion portfolio for public-private partnership projects


During the first meeting of the Dubai Executive Council since its reconstitution, His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council of Dubai, approved a portfolio of public-private partnership (PPP) projects from the Government of Dubai valued at AED 40 billion.

He Department of Finance (DOF) The Government of Dubai announced the portfolio as part of its PPP strategy. With a wide variety of projects, the new portfolio aims to further enrich cooperation and inspire new collaborations between the emirate’s public and private sectors.

Abdulrahman Saleh Al Saleh, Director General of the DOF, outlines Dubai’s vision of becoming a global economic hub under the leadership of Sheikh Mohammed bin Rashid Al Maktoum. The DOF has selected a portfolio of AED 40 billion for PPP projects, aligning with this vision. Al Saleh highlights the importance of launching these projects to boost economic growth and innovation. It highlights DOF’s efforts to position Dubai as a leading destination for PPP initiatives, with the aim of strengthening partnerships between the government and private sectors.

Arif Abdulrahman Ahli, DOF Executive Directorunderlines the portfolio’s coverage of ten key economic sectors over the period 2024-2026, with the aim of boosting Dubai’s economy and infrastructure.

there highlights DOF’s focus on improving Dubai’s regulatory framework for PPPs through the Comprehensive Performance Framework (CPF) programme. The CPF aims to manage the performance of the PPP ecosystem by ensuring compliance with laws and policies, promoting government and private sector adoption, encouraging innovation in financing, and advocating for environmental and social governance practices. Over time, all relevant government entities will adopt the MPP to foster a results-oriented corporate culture, improve efficiency, streamline decision-making, and improve project implementation and performance.

Muna Ahmad Abdulla, Director of the DOF Capital Projects Division, emphasizes the importance of PPPs in economic and infrastructure development. It claims that PPP projects drive economic growth and job creation by leveraging private sector investments in government infrastructure. abdullah highlights how PPP projects improve infrastructure and service delivery, leading to greater efficiency and innovation. Furthermore, he notes that private sector financing promotes governance, transparency and accountability through clear contracts and robust monitoring mechanisms. Finally, abdullah underlines the transformative impact of PPP projects in achieving sustainable development and improving the well-being of people and communities.

In 2023, the DOF launched a digital platform for project management within the APP ecosystem. The newly launched digital platform, named DP3, specializes in managing partnership projects implemented under the PPP framework at all stages, i.e. project identification and evaluation, implementation and commencement of operations. For the first time in the world, the single platform applies to government entities subject to Law No. (22) of 2015 regulating partnerships between the public and private sectors in the emirate of Dubai.

News source: Emirates News Agency


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