UAE to pass PPP law by year-end
This new framework will help regulate agreements between the private sector and the government
The UAE is preparing a framework to govern public-private partnerships (PPPs) by the end of 2016, a minister said on Tuesday.
The documentation will be used to draft a new law encouraging more private sector participation in infrastructure projects, Minister of Infrastructure Development Abdullah bin Mohammed al-Nuaimi told reporters at a rail industry conference in Dubai.
This new framework will help regulate agreements between the private sector and the government, Reuters reported.
Al-Nuaimi said: "It will give the opportunity to the private sector to be comfortable when they operate with the government.”
Governments across the GCC are now looking at utilising PPPs with the UAE leading the charge. PPPs will help reduce the financial burdens and strains wrought by low oil prices in the long-term.
The emirate of Dubai enacted its own PPP law in 2015.