During the first meeting of The Executive Council of Dubai since its reconstitution, H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, approved a portfolio of public-private partnership (PPP) projects of the Dubai Government valued at AED40 billion.
The Department of Finance (DOF) of the Government of Dubai announced the portfolio as part of its PPP strategy. Featuring a wide variety of projects, the new portfolio aims to further enrich cooperation and inspire new collaborations between the public and private sectors in the emirate.
Abdulrahman Saleh Al Saleh, Director-General of DOF, outlines Dubai's vision to become a global economic hub under Sheikh Mohammed bin Rashid Al Maktoum's leadership. DOF has curated a AED40 billion portfolio for PPP projects, aligning with this vision. Al Saleh emphasizes the importance of launching these projects to drive economic growth and innovation. He highlights DOF's efforts in positioning Dubai as a leading destination for PPP initiatives, aiming to strengthen partnerships between government and private sectors.
Arif Abdulrahman Ahli, DOF Executive Director, underscores the portfolio's coverage of ten key economic sectors over 2024-2026, aimed at boosting Dubai's economy and infrastructure.
Ahli highlights DOF's focus on enhancing Dubai's regulatory framework for PPP through the Comprehensive Performance Framework (CPF) program. The CPF aims to manage PPP ecosystem performance 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. Eventually, the CPF will be adopted by all relevant government entities to foster a results-oriented corporate culture, improve efficiency, streamline decision-making, and enhance project implementation and performance.
Muna Ahmad Abdulla, Director of the Capital Projects Division at DOF, emphasizes the significance of PPP in economic and infrastructure development. She asserts that PPP projects drive economic growth and job creation by leveraging private sector investments in government infrastructure. Abdulla highlights how PPP projects enhance infrastructure and service delivery, leading to improved efficiency and innovation. Moreover, she notes that private sector financing promotes governance, transparency, and accountability through clear contracts and robust monitoring mechanisms. Ultimately, Abdulla underscores the transformative impact of PPP projects in achieving sustainable development and enhancing the well-being of individuals and communities.
In 2023, DOF launched a digital platform for managing projects within the PPP ecosystem. Dubbed DP3, the newly launched digital platform specialises in managing partnership projects implemented under the PPP framework across all stages, namely project identification and evaluation, implementation, and commencing of operations. A world first, the unique 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
