DUBAI, Jan 18 (Reuters) – The United Arab Emirates has adopted a new law regulating public-private partnerships, which came into force on Dec. 1, state news agency WAM said on Thursday.
Individual emirates, such as Dubai, also have their own frameworks governing PPPs.
The new federal legislation aims to boost private sector participation in the government’s developmental and strategic projects through increased investment, as well as contributing technical knowledge and expertise, the WAM statement said.
The law applies to any PPP project that is proposed by a federal entity and fully or partly funded by the private sector.
The UAE is made up of seven emirates at varying stages of economic development, led by Abu Dhabi and Dubai. The government is advancing federal projects to boost development in smaller emirates, as the country seeks to diversify income sources away from oil and gas.
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