UAE: Sheikh Mohammed declares new legislation on public-private partnership – Information

UAE: Sheikh Mohammed declares new legislation on public-private partnership – Information

In a collection of tweets, he highlighted how the nation has overcome the consequences of the Covid-19 pandemic

Printed: Solar 11 Sep 2022, 12:24 PM

Final up to date: Solar 11 Sep 2022, 9:40 PM

The UAE has introduced a brand new legislation on public-private partnership (PPP) legislation in an effort to enhance the position of the non-public sector within the growth of the economic system.

This got here as His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, chaired a Cupboard assembly on Sunday.

“Our aim is to create alternatives and encourage the non-public sector to interact in developmental, financial and social initiatives and to develop partnerships that result in enhancing the standard of public providers,” Sheikh Mohammed tweeted on the finish of the assembly.

The PPP legislation goals to organise partnerships between each sectors, encouraging the non-public sector to take part within the growth and strategic initiatives, rising funding in initiatives of financial and social values, and enhancing the competitiveness of initiatives within the native, regional and international markets.

In a collection of tweets, Sheikh Mohammed highlighted how the UAE has overcome the consequences of the Covid-19 pandemic. He stated the nation’s financial progress has been larger than it was previous to the pandemic.

World commerce has not but regained its energy, however the UAE’s economic system has, Sheikh Mohammed stated.

The UAE’s international commerce additionally exceeded Dh1 trillion within the first half of 2022, in comparison with Dh840 billion through the pre-pandemic degree.

Sheikh Mohammed added: “The variety of international indices topped by the UAE rose from 121 to 156 indicators. We ranked among the many high 10 in 432 international indicators, in comparison with 314 pre-pandemic. We’re the primary on the planet by way of safety and security, infrastructure, the flexibleness of rules, and extra.”

Tourism sector revenues cross Dh19 billion

The Cupboard reviewed the achievements of the tourism sector within the first half of the 12 months 2022 which confirmed a rise in tourism’s contribution to the nationwide economic system by 12 per cent. The variety of resort friends institutions elevated by 42 per cent with a complete of 12 million friends, in comparison with 6.2 per cent earlier than the Covid-19 pandemic. The overall revenues of the sector amounted to Dh19 billion, through the first half of 2022.

“We anticipate a robust tourism efficiency on this winter season,” Sheikh Mohammed stated.

The Cupboard additionally reviewed the UAE’s vital progress in financial and commerce indicators, because the Fixed Value GDP progress charge for the primary quarter of 2022 reached 8.4 per cent, with a complete of Dh399 billion, in comparison with Dh368 billion in the identical interval of 2021.