Sharjah 24 – WAM: The Government of Dubai's Department of Finance (DoF) Sunday announced a large portfolio of projects that will foster new partnerships between the Government of Dubai and the private sector.
The projects are in line with the vision of His Highness 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 and one of the smartest and happiest cities in the world.
The announcement was made in the presence of Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai and Deputy Prime Minister and Minister of Finance, at the Dubai International Public-Private Partnership Conference (DIPPPC) being held at Expo 2020 Dubai.
The public-private partnership (PPP) project portfolio, worth more than AED25 billion, spans several vital sectors. With the announcement, the total value of both existing and newly announced PPP projects in Dubai has exceeded AED65 billion.
Sheikh Maktoum 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. The new portfolio of PPP projects seeks to further harness synergies between the two sectors to shape our future over the next 50-year phase in line with the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum. Consistent with Dubai’s rising profile as a preferred global investment destination, the new projects provide private sector players with exceptional opportunities in vital sectors that are powering the long-term growth of the emirate. These projects will use innovative PPP mechanisms that create the ideal conditions for private sector companies to contribute to realising the vision for Dubai’s future."
DoF revealed its portfolio of new PPP projects during the DIPPPC, which was opened this morning under the patronage of Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, at the Dubai Exhibition Centre at Expo 2020 Dubai.
The portfolio includes more than 30 significant projects in the infrastructure, public transportation and urban development sectors. Also present during the announcement of the new projects were Abdullah bin Touq Al Marri, Minister of Economy, Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, and Abdullah Al Basti, Secretary-General of Dubai Executive Council.
Tomorrow, DIPPPC will focus on achieving the vision of the Government of Dubai to shape a dynamic PPP ecosystem by building a strong governance framework that can help generate sustainable financing for government development plans.
For an optimal experience, please
