The Department of Finance (DoF) of the Dubai government has announced a large portfolio of public-private partnership (PPP) projects valued at more than $6.8 billion.
The announcement was made at the Dubai International Public-Private Partnership Conference (DIPPPC), which is being hosted at Expo 2020 Dubai, in the presence of H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai and Deputy Prime Minister and Minister of Finance. With the announcement, the total value of both existing and newly announced PPP projects in Dubai has exceeded $17.6 billion.
The projects, in accordance with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, is expected to transform Dubai into a vital player in global economic development and one of the smartest and happiest cities in the world and it will also foster new partnerships between the Government of Dubai and the private sector.
Sheikh Maktoum bin Mohammed Deputy Ruler – Dubai
“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. 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.”
The portfolio includes more than 30 significant projects in the infrastructure, public transportation and urban development sectors.
Mr. Abdulrahman Saleh Al Saleh, Director-General of DoF, welcomed participants to the conference and stated that 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.
The government’s initiatives, led by the DoF, have helped in setting a solid foundation for the development of a comprehensive and integrated PPP system. DoF will continue to build and strengthen these foundations in close collaboration with other government entities and private sector players that have the necessary capabilities and knowledge and are eager to take advantage of Dubai’s potential.
The Dubai International PPP Conference represents a key initiative for generating new public-private partnerships which will help accelerate Dubai’s journey to the future. The event promotes innovative financing methods for partnership projects among local and international investors.
