- Dubai has always been in the limelight amongst the world’s fastest-growing economies. Thus, with the intention of more development and maintaining a sustainable, highest quality-based infrastructure within the city, Dubai has taken a step ahead by establishing a completely dedicated unit focussing on public-private partnerships (PPP’s).
- According to the director-general of Dubai’s Department of Finance (DOF), Abdulrahman Saleh Al Saleh stated that he expects private sectors to contribute more towards bolstering nations economy as it will engage in the government-based projects as well initiatives worth tens of billions of dirhams within the upcoming years.
He further stated that “They are continuously striving harder as well as aspiring for enhancement of the overall financial sustainability of the public sector as well as in providing enough financial stimulus for the economic growth of Dubai and adjoining regions.
For getting alongside the line of the fulfillment of the aspirations, the DOF is focussing primarily on the public, private partnerships aiming to leverage local and international private sector expertise, efficiency, and innovation.”
Al Saleh added that “This particular business model is highly acclaimed worldwide after tasting in major success in most of the nations worldwide and it has been implemented for sustaining long time periods.”
The alternative finance modules support, serves the purpose of being acting as the catalyst and also act as a pipeline for the attainment of new strategic imperatives such as economic diversification, foreign direct investment, encouragement of local entrepreneurship and industry, and the pursuit of sustainable economic growth.
“In order to stick to the targets embarked on by the Dubai plan 2021 and also the Dubai Industrial Strategy 2030, Dubai should deliver the infrastructure needed to satisfy the requirements of a growing population, and develop the Emirate joined of the world’s leading money, touristic and business hubs,” he side.
Aref Abdulrahman Ahli, Executive director of planning and the general budget sector at DOF, stated that: “DOF has established a dedicated surgical operation unit. They also tend to finalize the formulation of in operation pointers supported best practices across the surgical operation procure lifecycle and production a regular budgeting approach to managing PPP liabilities and managing mixture commercial enterprise exposure.”
According to Ahli, objectives of the surgical operation framework embrace the encouragement of personal sector interest in taking part to extend investment in varied relevant fields.