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According to the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, to transform Dubai into an important participant in global economic development and the smartest and happiest city in the world For one, the Dubai Government’s Department of Finance (DOF) today announced a portfolio of large-scale projects that will promote a new partnership between the Dubai government and the private sector.
His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler, Deputy Prime Minister and Minister of Finance of Dubai, announced the news at the Dubai International PPP Conference held at the 2020 World Expo. PPP) project portfolio, valued at more than 25 billion dirhams, spanning multiple important fields. With the announcement, the total value of Dubai’s existing and newly announced PPP projects has exceeded AED65 billion.
His Royal Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler, Deputy Prime Minister and Minister of Finance of Dubai, said: “Dubai has established a fruitful partnership between the public and private sectors. The relationship has set an example for the world in terms of promoting sustainable economic growth. Strategic industries are accelerating the development. The new PPP project portfolio is designed to be based on Sheikh Mohammed bin Rashid Almak, Vice President, Prime Minister and Ruler of the UAE His Highness Thum’s instructions further use the synergy between the two departments to shape our future for Dubai in the next 50 years. Consistent with Dubai’s growing image as a preferred global investment destination, these new projects involve private sector participation They provide excellent opportunities in important areas that drive the long-term growth of the emirate. These projects will use innovative PPP mechanisms to create ideal conditions for private sector companies and contribute to the realization of Dubai’s vision for the future.”
DOF announces its new PPP project portfolio Dubai International Public-Private Partnership Conference (DIPPPC)Under the patronage of His Royal Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Committee, the opening this morning at the Dubai Exhibition Center at Expo 2020 Dubai. The investment portfolio includes more than 30 important projects in the fields of infrastructure, public transportation and urban development. Also present at the announcement of the new project were His Excellency Abdullah bin Touk Al-Mari, Minister of Economy, His Excellency Sani Bin Ahmed Zeyudi, Minister of State for Foreign Trade, and His Excellency Abdullah, Chief Executive. Lord Basti, Dubai Parliament.
The DOF Director-General, His Excellency Abdulrahman Saleh Al Saleh, welcomed the participants and said that the Dubai government has begun to outline the characteristics of the next phase of innovation in financing important government projects within the PPP ecosystem. “PPP has become the next global innovation trend for governments around the world to seek financing for their infrastructure and urban development projects,” Al Saleh said.
“DOF-led government efforts have laid a solid foundation for building a comprehensive and integrated PPP system. DOF will continue to work with other government entities and the private sector that has the necessary capabilities and expertise and is keen to seize the opportunities provided by Dubai. Participants work closely to develop and consolidate these foundations,” the DOF Director General added.
“The Dubai International Public-Private Partnership Conference represents a key initiative to establish new public-private partnerships that will help accelerate Dubai’s journey into the future. It exchanges ideas, insights and explorations for decision makers in the public and private sectors New cooperation opportunities paved the way. The event also promoted innovative financing methods for cooperative projects between local and international investors,” Al Saleh explained.
His Excellency Abdullah Al Basti, Secretary-General of the Dubai Executive Committee, emphasized in his keynote speech that the forward-looking vision and strategic development plan of wise leaders are the foundation for shaping the historic success of today’s emirate. “We always hear people who talk about inspiration and travel the world in search of new hopes and ideas that can transcend time. The truth is, it just needs to look at Sheikh Mohamed bin Rashid, Vice President and Prime Minister of the United Arab Emirates. The achievement of His Highness De Al Maktoum’s vision, he succeeded in transforming Dubai into a city that challenges the impossible every day.”
Your Excellency added: “Due to this ambitious vision, strategic development plan and the main role played by the private sector in the revival of civilization, Dubai has worked with the private sector to establish one of the most groundbreaking regional and international business models, according to Dubai. The continued support and instructions of His Royal Highness Sheikh Hamdan bin Mohamed bin Rashid Al Maktoum, Crown Prince and Chairman of the Dubai Executive Committee.”
“It is no coincidence that the private sector has chosen to work with Dubai. The emirate ranks first in the global index for creating the world’s most attractive business destination. It provides a competitive environment that promotes regional and global business growth; flying more than 5 billion dollars The flights of the human market; and ports with a shipping network connecting all parts of the world provide qualitative logistics advantages. In fact, DP World owns and operates 93 ports and has 127 companies in 60 countries around the world. These key features Both have laid a solid foundation for the emirate and are the reason why Dubai was rated as one of the safest cities in the world during the pandemic, as well as a global reference for passive and active policies that pave the way for greater success.”
Your Excellency also mentioned some successful projects that have been achieved due to public-private partnerships, including the Al Maktoum Bridge built in the 1960s, which is one of the historical projects in the development of infrastructure, and the recently launched Dubai School Project. Will hold more than 580 million dirhams of investment in the year. These projects and many other strategic partnerships have formed a qualitative leap in the development of the entire emirate, which aligns with the mobility, sustainability and axis of opportunity for Expo 2020 Dubai, such as the operation and maintenance of the Dubai Metro , Mohammed bin Rashid Al Maktoum solar park, independent power plant project, and the 2020 Dubai World Expo, a grand event that brings the world back together in Dubai.
During the two-day DIPPPC ending tomorrow, DOF will host an exhibition jointly organized by Dubai Electricity and Water Authority, Dubai Roads and Traffic Authority, Dubai Municipality and Dubai Health Authority. These four entities will present their proposed PPP projects to more than 600 international, regional and local decision makers and officials from ministries, government entities, banks and companies in the fields of investment, contracting, consulting, and infrastructure development.
Tomorrow, DIPPPC will focus on realizing the vision of the Dubai government by establishing a strong governance framework to shape a vibrant PPP ecosystem, which will help provide sustainable financing for government development plans.
The Dubai government’s first meeting in the PPP field is the first in the region. DIPPPC reveals the opportunities and challenges faced by global and regional infrastructure project financing and the important role of PPP ecosystem to achieve the sustainability of project financing .
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