Dubai: The UAE announced the Public-Private Partnership Act to increase the role of the private sector in economic development. The decision was taken in a cabinet meeting held last day under the leadership of Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai.
The announcement of PPP aims to encourage the private sector to engage in developmental, economic and social projects. The PPP Act also aims to improve the quality of public services with private partnerships, partner in strategic projects and increase the competitiveness of regional and international projects. Explaining that the country has overcome the effects of Corona under the leadership of UAE President Sheikh Mohammed bin Zayed Al Nahyan, Sheikh Mohammed also pointed out that the economic growth of the country is higher than before the spread of Corona.
Sheikh Mohammed also said that although global trade has not yet strengthened, the UAE’s economy has strengthened. The UAE’s foreign trade will exceed one trillion dirhams in the first half of 2022. Before the spread of Corona, it was 840 billion dirhams. There is growth in all sectors like energy, commerce, trade and investment. A huge increase in the number of tourists coming to the UAE through winter tourism is expected.