The UAE Ministry of Finance has announced the Cabinet's approval of the Public-Private Partnership (PPP) Manual.
This initiative aims to create a policy and procedural framework to enhance the efficiency and effectiveness of federal government projects, leveraging private sector expertise.
The manual encourages private sector participation in national and strategic projects, fostering a collaborative environment that benefits society, the nation, the private sector, and the economy. It outlines roles and responsibilities, procedures for PPP contracts, market studies, value-for-money assessments, and project management, in accordance with Federal Decree-Law No. 12 of 2023.
Minister of State for Financial Affairs Mohamed Hadi Al Hussaini emphasized the importance of this collaboration for sustainable economic growth. He highlighted that public-private partnerships (PPPs) enhance efficiency, service quality, and resource utilization through innovation and competition.
"This manual represents a practical step forward and an open invitation for active participation from the private sector,"
Al Hussaini stated.
Priority Sectors in the First Phase
Priority sectors for the first phase of future partnership projects include infrastructure, energy, healthcare, social services, and education. The Ministry aims to build effective strategies and enhance cooperation between the public and private sectors, emphasizing governance to maintain efficiency and flexibility.
This initiative also aims to transfer private sector knowledge to federal entities, train federal employees in project management, and ensure that projects provide added value for public funds. The PPP Manual is a key step in promoting sustainable economic growth and comprehensive prosperity in the UAE.
News Source: Emirates News Agency
