Enhancements in UAE Legislation to Strengthen Puplic-Private Partnership Projects
In recent developments, the UAE’s Ministry of Finance introduced Federal DecreeLaw No.12 of 2023, marking a significant expansion in the scope of public-private partnership (PPP) projects nationwide. This initiative underscores the value of collaborations between governments and private entities, offering benefits such as streamlined operations, enhanced services, cost reduction, and efficient resource allocation.
The primary objective of this legislation is to incentivize greater investment and participation from the private sector in developmental and strategic infrastructure ventures led by the federal government, thereby enhancing competitivenessin local, regional, and global markets.