According to the vision of His Royal Highness Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, Dubai will be transformed into an important participant in global economic development and the smartest and happiest city in the world. The Department of Finance (DOF) announced a series of large-scale projects on October 11 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 of Dubai, Deputy Prime Minister and Minister of Finance, announced the news at the Dubai International PPP Conference to be held at the 2020 World Expo. A portfolio of PPP projects, valued at more than 25 billion dirhams, spans multiple important fields. After the announcement, the total value of Dubai's existing and newly announced PPP projects has exceeded 65 billion dirhams.

His Highness Sheikh 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. This relationship has established the world in terms of promoting sustainable economic growth. Strategic industries accelerate development. The new PPP project portfolio aims to build on the instructions of Sheikh Mohammed bin Rashid Almak, Vice President, Prime Minister and Ruler of the UAE, Further use the synergy between the two sectors to shape our future of Dubai in the next 50 years. Consistent with Dubai’s increasingly becoming the world’s first investment destination, these new projects involve the participation of the private sector and they are driving the long-term growth of the emirate Important areas provide excellent opportunities. These projects will use innovative PPP mechanisms to create ideal conditions for private companies and contribute to the realization of Dubai’s vision for the future."

DOF announced its new PPP project portfolio Dubai International Public-Private Partnership Conference (DIPPPC) under the sponsorship of His Royal Highness Sheikh Hamdan bin Mohamed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Committee, On the morning of October 11th, the Dubai Expo 2020 Dubai Exhibition Center will be held in 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 Tuk 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 Director General of DOF welcomed the participants and said that the Dubai government has begun to outline the innovative features of financing important government projects within the PPP ecosystem in the next phase. "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.

New trends in infrastructure financing in PPP countries

“The government efforts led by DOF have laid a solid foundation for building a comprehensive and integrated PPP system. DOF will continue to cooperate with other government entities and private sectors that have the necessary capabilities and expertise and are eager to seize the opportunities provided by Dubai. Participate. To develop and consolidate these foundations,” added the DOF Director-General.

“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 , Paving the way for new cooperation opportunities. The event also promoted innovative financing methods for cooperative projects between local and international investors,” Al Saleh explained.

His Excellency Abdullah Albasti, 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 the emirate today. "We always hear people talking about inspiration and traveling the world in search of new hopes and ideas that can transcend time. The truth is that it only needs to look at Sheikh Mohamed bin Rashid, Vice President and Prime Minister of the United Arab Emirates. It is realized. The vision of His Highness Al Maktoum, he successfully transformed Dubai into a city that challenges the impossible every day."

Your Excellency added: “Thanks 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. To Dubai. The continued support and instructions of His Highness Sheikh Hamdan bin Mohamed bin Rashid Al Maktoum, Chairman of the Dubai Executive Committee and Crown Prince."

"The choice of the private sector to work with Dubai is no coincidence. 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 The flight of the dollar human market; ports with a shipping network connecting all parts of the world provide high-quality logistics advantages. In fact, DP World owns and operates 93 ports and has 127 companies in 60 countries around the world. These key features are all The emirate has laid a solid foundation and is the reason why Dubai was rated as one of the safest cities in the world during the pandemic. It is also a reference for passive and active policies around the world, paving the way for greater development. Success."

Your Excellency also mentioned some successful projects due to public-private partnerships, including the Al Maktoum Bridge built in the 1960s, which is one of the historical projects of infrastructure development, and the recently launched Dubai School Project. It will hold more than AED 580 million in investments during the year. These projects and many other strategic partnerships have formed a qualitative leap in the development of the entire emirate, which coincides with the mobility, sustainability and opportunity axis of Expo 2020 Dubai, such as the operation and maintenance of the Dubai Metro. The bin Rashid Al Maktoum solar park, the 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 that ends on October 12, 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 introduce their proposed PPP projects to more than 600 international, regional and local decision makers and officials from government departments, government entities, banks and companies from the fields of investment, contracting, consulting, and infrastructure development.

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 first meeting of the Dubai government in the field of PPP is the first in the region. DIPPPC reveals the opportunities and challenges faced by global and regional infrastructure project financing, as well as the important role of the PPP ecosystem in achieving the sustainability of project financing. Editor/Xu Shengpeng