Dubai - MENA Herald: Dubai Investment Development Agency (Dubai FDI), an agency of the Department of Economic Development (DED) in Dubai, and the multinational professional services firm PwC have joined forces to issue a report evaluating the public private partnership (PPP) landscape in Dubai from a foreign direct investment (FDI) perspective.
The report titled “Adopting the Public Private Partnerships Model and its role in attracting Foreign Direct Investment” sets the framework for PPP from an FDI perspective and highlights a few examples of best practice scenarios and the impact of the Law No.25 for 2015 on attracting investors for PPP projects in Dubai.
His Highness Sheikh Mohammed Bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai, issued Law No.22 for 2015 for partnership between the public and private sectors in August last year. The law is seen as clear indication of Dubai’s commitment to collaborative economic development between the government and private investors.
“We are glad to partner with PwC to keep investors informed about the unique opportunities for public-private partnerships existing today in Dubai and how the new laws and regulations further strengthen Dubai’s position as the preferred investment destination in the Middle East and North Africa region,” said Fahad Al Gergawi, Chief Executive Officer of Dubai FDI.
Al Gergawi added that Dubai FDI will continue to provide investors with the insight and analysis needed to make informed decisions through initiatives such as the Dubai Investment Forum (DIF) and partnerships with leading businesses and consulting firms.
The inaugural Dubai Investment Forum held in October 2015 provided a platform for government departments to inform investors about various opportunities across key sectors in Dubai, particularly in infrastructure development. A dedicated PPP session held in collaboration with PwC traced the roadmap for investors to get involved and benefit from the Dubai PPP law.
Maarten Wolfs, Middle East Infrastructure Finance Leader at PwC, commented: “In developing a PPP law Dubai is taking a mature approach to attracting long-term investment to the emirate. Going forward, Dubai needs to determine a programme of implementation for PPP projects, identifying the easiest projects to procure first to test the efficiency of the law and build momentum for the wider programme."
Over the last decade, PPP has become a popular tool for funding new infrastructure projects around the world.
The new law lays down terms and conditions for the public and private sectors to work together on economically, financially, technologically and socially feasible projects. The Dubai FDI-PwC report identifies and highlights PPP projects with due emphasis on their feasibility in terms of attracting the global investor community and in accelerating economic diversification, knowledge transfer and job creation.
The report is available on PwC and Dubai FDI’s websites www.dubaifdi.gov.ae.
