Dubai Finance launches a portfolio of public-private partnership projects worth more than 25 billion dirhams

His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, affirmed that the private sector constitutes a key element of the comprehensive development equation in Dubai, with its influential role in various vital sectors, and that Dubai has provided a global model. He is emulated in approving the foundations of constructive partnership between the public and private sectors, and the subsequent positive and clear repercussions that contributed to advancing sustainable development rates and accelerating the growth rates of many key sectors.

His Highness pointed to Dubai's relentless efforts to take partnership with the private sector to higher levels by providing opportunities, overcoming obstacles and finding new frameworks and paths that allow increasing the space for the private sector's participation in the strong development process of the Emirate of Dubai. His Highness said: «The vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Deputy The President, Prime Minister and Ruler of Dubai, may God protect him, for the future of development and what it requires of concerted efforts, energies and capabilities, was the solid foundation from which this exemplary integration of roles between the public and private sectors was launched, and the main reason for its strength and clear positive impact on Dubai’s development process, including its major achievements in various fields.”

His Highness added: "We have high hopes for this exemplary partnership in light of the vision of our wise leadership for the next fifty years... in a framework that guarantees the private sector and its institutions of all sizes and specializations sufficient space to multiply their roles within a supportive and stimulating environment for creativity... The government will continue to work hand in hand with the private sector." To create the future we aspire to and reach the highest levels of excellence to complete this unique model of partnership that guarantees both sides unlimited prospects of success.. Dubai will always remain the first investment destination in the region with more opportunities, projects and initiatives based on a solid foundation of partnership between the public and private sectors.” .

This came during the presence of His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, part of the work of the "Dubai International Conference on Partnership between the Public and Private Sectors", which opened today, Sunday morning, under the patronage of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, in Dubai Exhibition Center at Expo 2020 Dubai, the first of its kind in the region.

During the conference, and under the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, may God protect him, the Department of Finance in the Government of Dubai announced the launch of a huge portfolio of projects available for partnership between the Government of Dubai and private sector companies with more than 30 projects from Vital projects in the sectors of infrastructure, public transport and urban development, with a value of more than 25 billion dirhams, as part of His Highness’s vision to develop Dubai and make it a vital hub in the development of the global economy and one of the smartest and happiest cities in the world, and within a new push that strengthens the existing partnership between the public sectors and private in the emirate.

With this announcement, the value of existing and announced partnership projects between the public and private sectors in Dubai has exceeded 65 billion dirhams.

The "Dubai International Conference on Public-Private Partnership" was attended by His Excellency Abdullah bin Touq Al Marri, Minister of Economy, His Excellency Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, and a number of general managers and officials.

His Excellency Abdul Rahman Saleh Al Saleh, Director General of the Department of Finance in the Government of Dubai, welcomed the participants in the "Dubai International Conference on Public-Private Partnership", saying that the Government of Dubai has begun to draw accurate features for the next stage of innovation in financing vital government projects in the public-private partnership. and private sector, stressing that this emerging vital field has become the next global innovative destination for governments in their endeavors to finance infrastructure and urban development projects.

His Excellency Al Saleh said that the government efforts led by the Department of Finance resulted in “laying solid foundations to build a comprehensive and integrated system in the field of partnership between the public and private sectors,” noting that the Department will continue to develop and consolidate these foundations in close cooperation with its partners from government agencies and companies. The private sector, which he said "has the capabilities, expertise and energies and is looking forward to increasing the positive returns on its business from the opportunities that Dubai abounds in."

On the importance of the conference, His Excellency said: “This first government event of its kind in the region is of great importance in the endeavors to develop the future of Dubai, and paves the way for stimulating dialogue between officials and decision-makers in the public and private sectors, in order to exchange ideas and reach more common visions. In depth about the partnership opportunities available between the two sectors, as well as promoting innovative financing methods for partnership projects among local and international investors.

For his part, and during his keynote speech, His Excellency Abdullah Al Basti, Secretary-General of the Executive Council of the Emirate of Dubai, stressed that the historical success that Dubai is experiencing today would not have been achieved without the vision of strategic leadership and well-thought-out development plans, saying: “We always hear around us about those who talk about inspiration. And they roam the world in search of new hope or ideas capable of defying time. The search for inspiration requires no more than a look at what was produced by the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, that transformed Dubai. To the city of realizing dreams, a city that does not know the impossible.”

His Excellency added: “Thanks to this strategic vision, Dubai’s development plans, and the key role of the private sector in the civilizational renaissance, Dubai has historically formed one of the most successful regional and international models in terms of partnership with the private sector, and it continues to achieve this under the continuous directives of His Highness Sheikh Hamdan bin Mohammed Bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council of the Emirate of Dubai.

His Excellency said: "The choice of Dubai by the private sector is not a coincidence. Dubai has created the most attractive environment to attract and grow business in the region and the world, as our flights reach markets that include more than 5 billion consumers, and we have an infrastructure that tops global indicators. As for its ports, Dubai owns a network of shipping lines that connect to various parts of the globe, giving it a qualitative logistical advantage, as DP World owns and operates 93 ports, and owns 127 companies, in 60 countries around the world, all of which contributed to the emirate having the foundations It is solid, making it one of the world's most capable cities to deal efficiently with the repercussions of the pandemic, and a global reference in reactive and proactive policies to achieve more successes.

His Excellency the Secretary-General of the Executive Council of the Emirate of Dubai mentioned a number of successful projects in the field of partnership between the public and private sectors that support the journey of progress and continuous growth, as the Al Maktoum Bridge was established in the 1960s as one of the historical partnership projects established in infrastructure development. The launch of the Dubai Schools project with an investment value of more than 580 million dirhams in the coming years, and between these two projects there are many strategic partnership projects that Dubai has worked on, and made a qualitative leap in the development process in the emirate, which aligns with Expo 2020 Dubai’s axes of mobility, sustainability and opportunities. Such as: the Dubai Metro operation and maintenance projects, the Mohammed bin Rashid Al Maktoum Solar Energy Complex project, the advanced power plant project, in addition to the most important event that brings the world together in Dubai, which is Expo 2020 Dubai.

In the international conference and the accompanying exhibition, the department hosted: Dubai Electricity and Water Authority, Dubai Roads and Transport Authority, Dubai Municipality, and Dubai Health Authority, where the four entities presented details of their projects for partnership with the private sector in front of a wide international, regional and local presence that included more than 600 Among the decision makers and officials in ministries, government agencies, banks and companies working in the fields of investment, contracting, consultancy and infrastructure development.

The work of the Dubai International Conference on Public-Private Partnership is scheduled to continue until tomorrow, Monday, October 11, under the umbrella of Expo 2020 Dubai, where the focus is on achieving the vision of the Dubai government to become the leading destination in formulating the appropriate environment for the development of the partnership system by building a governance framework Strong helps provide sustainable financing for government development plans.

The Dubai International Conference on Public-Private Partnership is the first conference hosted by the Government of Dubai in the field of partnership between the two sectors, and the first of its kind in the region. In achieving sustainability in project financing.

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