UAE Ministry of Finance Launches New Guide for Public-Private Partnerships
The Ministry of Finance (MoF) in the UAE has introduced a new Public-Private Partnership (PPP) Manual during a workshop held at the Waldorf Astoria Hotel in Dubai International Financial Centre. The event was attended by Saeed Rashid Al Yateem, Assistant Under Secretary of Resource and Budget Sector, along with other leaders from the Ministry and federal entities.
The workshop aimed to introduce the key themes of the guide and the stages of project implementation. It highlighted the guide’s role in supporting the UAE’s development projects and national strategy, and discussed the governance mechanism that the Ministry will use to oversee partnership project procedures.
Saeed Rashid Al Yateem stated, “This workshop is part of MoF’s ongoing efforts to strengthen cooperation between the public and private sectors and achieve effective integration in the implementation of development and strategic projects. This guide is particularly important, as it enables federal government entities to implement their projects efficiently and effectively.”
Participants at the workshop expressed their appreciation for the Ministry’s initiative, emphasizing its importance in enhancing cooperation and effectively implementing strategic projects. They also showed willingness to engage in partnership projects to achieve sustainable development goals.
The Ministry of Finance, in collaboration with strategic partners, has identified key priority sectors for the first phase of PPP projects, including infrastructure, energy, healthcare, community services, and education. The Cabinet has adopted the PPP Manual, and the Ministry of Finance is responsible for governing the procedures for partnership projects between the federal and private sectors.
Doubts Revealed
UAE Ministry of Finance -: The UAE Ministry of Finance is a government department in the United Arab Emirates that handles the country’s money matters, like taxes and budgets.
Public-Private Partnership (PPP) -: A Public-Private Partnership (PPP) is when the government and private companies work together on big projects, like building roads or hospitals.
Manual -: A manual is a book or guide that gives instructions on how to do something.
Waldorf Astoria Hotel -: The Waldorf Astoria Hotel is a very fancy and famous hotel in Dubai, a city in the UAE.
Saeed Rashid Al Yateem -: Saeed Rashid Al Yateem is an important person who works in the UAE Ministry of Finance.
Transparency -: Transparency means being open and clear about what you are doing, so everyone knows and understands.
Infrastructure -: Infrastructure includes things like roads, bridges, and buildings that are important for a country to work well.
Economic growth -: Economic growth means the country is getting richer and people are able to buy more things and have better jobs.
Innovation -: Innovation means creating new ideas, products, or ways of doing things that make life better.