A seminar was arranged in chamber of commerce Abu Dhabi regarding Public-Private Partnership in the Emirate of Abu Dhabi. One-day seminar was headed by Dr Haitham Salman Managing Partner of Middle East Alliance Abu Dhabi. The Seminar was held on 17th day of Noveember2019. From 10 Am to 2 pm
The main themes of the symposium were about the Public-Private Partnership Projects and the Legal Framework for Regulating Public-Private Partnership in the Emirate of Abu Dhabi in the light of Law No. 2 of 2019. Mechanisms for implementing partnership projects in the Emirate of Abu Dhabi considering the relevant international law and practice.
The Crux of the seminar was that the partnership, PPP and a private sector company, is based on specific projects, whereby the private partner provides assets and services, which are traditionally provided directly from the public sector, and the associated risks areas. These arrangements include simplified images of outsourcing (guarding or hygiene), or extend to the private sector, (management), or the management of schools or hospitals in the planning, financing, design, construction, operation and maintenance of public services. (Such as building a power plant, building a metro network, or an infrastructure project) Risks, responsibilities, and rewards This partnership or partnership is based on the experience of each partner who is concerned.
In a nutshell we can say that
Since 1990, there has been a growing interest in partnership projects and various partnership methods have been developed following national needs and private sector capacity
GCC has an open and clears Demand for public-private partnership projects have been most evident
Recently institutional and legal frameworks to regulate the establishment and implementation of partnership projects. GCC countries need large infrastructure projects in the next 10 years, and with low oil prices, it is expected that the partnership projects will receive a large part of them.
Targeted sectors such as education, transport and health, benefiting from the technical manuals developed by the United Nations Development Programs, international expertise houses and the practices of the leading countries in this field, to maximize the returns and the quality of the partnership projects in the region and achieve their expectations.
Foreign specialized and attract technical skills while improving the means of management to qualify the investor to take over partnership projects.
As part of the Government of Abu Dhabi's efforts to diversify its sources of income and attract foreign direct investment (FDI), Law No. 1 promulgates a high degree of flexibility for the Government Entities and the Abu Dhabi Investment Office to implement partnership projects that are consistent with the Emirate's economic and development plans. The executive regulations of the Abu Dhabi Investment Office are expected to be issued shortly to clarify the steps of the proposed projects.
Composed by: Sheher Bano