UAE announces new law on public-private partnership

A new law regulating public-private partnerships has been announced in the United Arab Emirates. The new regulation came after His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, chaired a Cabinet meeting on Sunday. Sheikh Mohammed tweeted after the meeting, "Our goal is to create opportunities and encourage the private sector to engage in developmental, economic and social projects and to develop partnerships that lead to improving the quality of public services." In a series of tweets, Sheikh Mohammed highlighted the UAE's recovery from the Covid-19 outbreak. He stated that the country's economy had increased more rapidly since the outbreak than it did before. Sheikh Mohammed stated that while international trade has yet to recover, the economy of the UAE has. He said the UAE's non-oil foreign trade recorded a new achievement in the first half of this year as it clocked Dh1.053 trillion — for the first time in history. He said the United Arab Emirates leads the world in 156 indicators, such as attracting talent, infrastructure, and legislation. More details on the new regulation will be disclosed soon. BKM/ Expat Media
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