The UAE's Ministry of Finance has issued a law, which sets the general framework for partnerships between federal government entities and the private sector.
In addition to regulating public-private partnerships, the legislation aims to encourage the private sector to participate in developmental and strategic projects and increase investment in federal government initiatives of social and economic value.
Federal Decree-Law No. 12 of 2023, which entered into force on December 1, 2023, will help improve the quality of public services, while ensuring effective management for the development of those services.
It will also enable the government to efficiently implement strategic projects, as well as benefit from the private sector's financial and administrative expertise, technical knowledge, and technology solutions.
The UAE Ministry of Finance has announced the issuance of Federal Law No. (12) of 2023 on public-private partnerships, which aims to encourage private sector involvement in developmental and strategic projects.#MOFUAE pic.twitter.com/Df5PBLeCKw
— وزارة المالية | الإمارات (@MOFUAE) January 18, 2024
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