DUBAI’S Department of Finance (DoF) has announced a large number of projects worth more than AED25 billion ($6.8 billion) under the public-private partnership (PPP) portfolio.
The projects will foster new partnerships between the Government of Dubai and the private sector in line with the vision of HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, to transform the emirate into a vital player in global economic development and one of the smartest and happiest cities in the world, said a Wam news agency report.
The announcement was made in the presence of HH 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) at Expo 2020 Dubai.
With the announcement, the total value of both existing and newly announced PPP projects in Dubai has exceeded AED65 billion, it said.
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 HH Sheikh Mohammed bin Rashid.”
The Department of Finance’s PPP portfolio includes more than 30 significant projects in the infrastructure, public transportation and urban development sectors.