The Dubai Department of Finance (DoF) announced a new public-private partnership ( PPP ) project portfolio worth over Dhs25bn across several vital sectors.
The director general of Department of Finance (DOF) Abdulrahman Saleh Al Saleh, said:
“PPP has become the next global innovative trend for governments around the world seeking to finance their infrastructure and urban development projects.”
“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.”
The secretary-general of Executive Council of Dubai, Abdullah Al Basti, also noted the key reasons as to why the private sector was keen to partner with the public sector on vital projects.
He also said “It is not a coincidence that the private sector has chosen to partner with Dubai. The emirate has topped global indices for creating the most attractive business destinations in the world.
Al Basti said that projects like the Al Maktoum Bridge, which was established in the 1960s, as well as more recent initiatives like the Dubai Schools project are prime examples of successful PPP projects executed in the emirate.
The government of Dubai hosted the Dubai International Public-Private Partnership Conference which is first of its kind in the field of public-private partnership the conference will clarify global and regional opportunities and challenges facing infrastructure project financing and the role played by the PPP ecosystem in achieving sustainability in project financing.
