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

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

In a sequence of tweets, he highlighted how the nation has overcome the results 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 to be able to improve the position of the non-public sector within the improvement 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 objective is to create alternatives and encourage the non-public sector to have interaction in developmental, financial and social tasks and to develop partnerships that result in enhancing the standard of public companies,” 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 improvement and strategic tasks, rising funding in tasks of financial and social values, and enhancing the competitiveness of tasks within the native, regional and world markets.

In a sequence of tweets, Sheikh Mohammed highlighted how the UAE has overcome the results of the Covid-19 pandemic. He stated the nation’s financial progress has been increased 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 in the course of the pre-pandemic degree.

Sheikh Mohammed added: “The variety of world indices topped by the UAE rose from 121 to 156 indicators. We ranked among the many prime 10 in 432 world indicators, in comparison with 314 pre-pandemic. We’re the primary on the earth 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 lodge visitors institutions elevated by 42 per cent with a complete of 12 million visitors, in comparison with 6.2 per cent earlier than the Covid-19 pandemic. The overall revenues of the sector amounted to Dh19 billion, in the course of the first half of 2022.

“We count on a powerful tourism efficiency on this winter season,” Sheikh Mohammed stated.

The Cupboard additionally reviewed the UAE’s important 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.