Dubai's ambitious strategic vision is underpinned by the need to continue making large scale investments in both social and economic infrastructure. This results in ever increasing budgetary demands both in terms of funding and financing. It is recognised both within the Dubai government and in the wider capital markets that Dubai will have to continue to evolve innovate and reform the manner in which these large financial commitments are funded through alternative financing structures.
Alternative financing can also serve as a catalyst and a conduit for the attainment of additional strategic imperatives such as economic diversification foreign direct investment encouragement of local entrepreneurship and industry and the pursuit of sustainable economic growth that is both guarded against volatility and is not resource-intensive.
All of the above necessitates the leveraging of local and international private sector expertise efficiency, and innovation. To this end the Dubai government issued Law No. 22 in 2015 (the 'PPP Law') to provide a legal framework for government agencies to enter into Partnership Contracts with the private sector.
The Department of Finance ('DOF') is continuously aspiring to enhance financial sustainability of the public sector and provide stimulus for economic growth in the Emirate of Dubai. Developing and maintaining a sustainable reliable and high quality infrastructure is the key to success of any city. In line with these aspirations the PPP Unit has been established at DOF which is responsible for: