Abu Dhabi: The United Arab Emirates (UAE) on Sunday announced a new law enhancing partnership between government and private sectors.
This announcement came during a cabinet meeting chaired by Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai at Qasr Al Watan in the capital, Abu Dhabi.
New public-private partnership opportunities
The cabinet issued a new law regulating the partnership between the public and private sectors.
The law is aimed at organising partnerships between both sectors, encouraging the private sector to participate in the development and strategic projects, increasing investment in projects of economic and social values, and enhancing the competitiveness of projects in the local, regional and global markets.
“Our goal is to create opportunities and encourage the private sector to engage in developmental, economic and social projects and to develop partnerships that lead to improving the quality of public services,” said Sheikh Mohammed.
UAE fastest in overcoming the effects of the COVID pandemic; ranks first in the world in 156 indicators
In a series of tweets, Sheikh Mohammed highlighted how the UAE has overcome the effects of the COVID-19 pandemic. He said, the UAE, led by Sheikh Mohammed bin Zayed, was the fastest in overcoming the effects of the largest pandemic that has passed on humanity, and it was the most balanced between human health and economic interests.
“Many countries in the east and west of the world are still suffering from the effects of the pandemic, and global trade has not yet regained its strength, but the UAE has become a model and a global exception in the speed and strength of growth after the pandemic,” he added.
Sheikh Mohammed explained that the UAE’s development indicators today achieved first place globally in 156 indicators, compared to 121 indicators before the pandemic, and 432 indicators among the top ten globally, compared to 314 before the pandemic.
UAE’s foreign trade for the first six months of this year exceeded one trillion dirhams, compared to 840 billion Dirhams before the pandemic, and our economic growth exceeded 22 per cent during 2022.
Tourism sector revenues cross 19 billion Dirham
The tourism sector’s revenues exceeded 19 billion Dirhams during the first half of 2022, and the total hotel guests reached 12 million, achieving a growth of 42 per cent, and expectations of a strong tourism recovery with the upcoming winter season.
UAE to license region’s first electric cargo plane
The Cabinet also approved temporary licensing for the first cargo aircraft in the region that runs on completely clean electric energy and without any emissions.
Taking to Twitter, Sheikh Mohammed said the move is an “important step that may contribute to changing the future of the shipping sector and its environmental impacts”.
The temporary licensing will help achieve the requirements of alternative and green energy, and reduce shipping costs for both suppliers and consumers.
The Cabinet also approved several international agreements, including an agreement with Spain to co-operate in the fight against crime, a partnership agreement with Indonesia and an agreement with the International Committee of the Red Cross (ICRC) to establish an office in the UAE.
