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A distinctive model in the partnership between the public and private sectors.
Sami Al Riyami
reyami@emaratalyoum.comsamialreyami
October 13, 2021
The launch of a huge portfolio of projects available for partnership between the government of Dubai and private sector companies, is one of the most important steps and initiatives announced by the government of Dubai, represented by the Department of Finance, and it is a very correct economic plan, to continue the great role played by Dubai in attracting foreign investment, and moving forward Forging ahead in the path of excellence, with a distinctive investment environment.
The new portfolio that you announced is characterized by the presence of more than 30 vital projects in the sectors of infrastructure, public transportation and urban development, with a value of more than 25 billion dirhams. To push Dubai's economy to new competitive levels and raise levels of comprehensive development.
Partnership between the public and private sectors in Dubai is not a new matter, and the assignment of infrastructure projects to private sector companies is not something new, and it dates back specifically to the era of the sixties, when the Al Maktoum Bridge was established, as one of the well-established historical partnership projects in infrastructure development.
Recently, the Dubai Schools project was launched, with an investment value of more than 580 million dirhams, in the coming years, and between these two projects there are many partnership projects that Dubai has worked on, and made a qualitative leap in the development process in the emirate.
Partnership between the government and the private sector is an ideal solution to achieve a healthy, comprehensive and sustainable economic cycle, and it is the best way and means to continue to work successfully in large infrastructure projects, and it has real common benefits for all parties.
It is known that the returns of the public-private partnership on investment are greater than the traditional, private or governmental methods, and one of the most important advantages of the partnership is the full early assessment of risks to determine the feasibility of the project, thus transferring the burden of implementation from the government to the private participant, and thus The efficiency of government investment increases, and the government can redirect government funds to other important socio-economic areas.
The private sector constitutes a major component of the comprehensive development equation in all countries in general, and it plays an influential role within the various vital sectors in the Emirate of Dubai. Therefore, government support for this sector is support for the economy in general, and it is not at all assumed that the government seeks to compete with this sector In any way, this distinguished step came from the Emirate of Dubai to provide a global model for establishing the foundations of a constructive partnership between these two sectors.
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reyami@emaratalyoum.com