The government of Dubai on Sunday announced a diversified portfolio of public-private partnership (PPP) projects worth more than 25 billion dirhams ($6.81 billion).
The projects will foster new partnerships between the Government of Dubai and the private sector in line with the vision of Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, to transform Dubai into a vital player in global economic development.
With the announcement, the total value of both existing and newly announced PPP projects in Dubai now exceeds AED65 billion ($17.6 billion).
Sheikh Mohammed said: “Dubai has set an example for the world in fostering productive partnerships between the public and private sectors to drive sustainable economic growth and the accelerated development of strategic sectors.”
Director-General of Dubai's Department of Finance (DoF) Abdulrahman Saleh Al Saleh said the Government of Dubai has begun to outline the features for the next stage of innovation in financing vital government projects within the PPP ecosystem.
“PPP has become the next global innovative trend for governments around the world seeking to finance their infrastructure and urban development projects,” Saleh said.
“The government’s efforts led by DoF have helped create a solid foundation for building a comprehensive and integrated PPP system.”
“DoF will continue to develop and consolidate these foundations in close cooperation with other government entities as well as private sector players who have the necessary capabilities and expertise and are keen to seize the opportunities Dubai has to offer,” Saleh added.
Abdulla Al Basti, Secretary-General of The Executive Council of Dubai, said: “It is not a coincidence that the private sector has chosen to partner with Dubai. It offers a competitive environment that facilitates growth for both regional and global businesses.”