The new law regulates partnerships between the public and private sectors
- The law states conditions for the approval of private and public sector projects
- It seeks to increase productivity and improve the quality of public services
UAE Vice President Sheikh Mohammed bin Rashid al-Maktoum has issued Law No 22 for 2015, regulating partnerships between the public and private sectors in Dubai.
The new law specifies terms for partnerships between the public and private sectors in relation to a partnership agreement that follows the by-laws of this law. It also states conditions for the approval of projects.
According to the law, a government bodys director general or their deputy can approve a project as long as the total cost that will be incurred by the body through the partnership agreement does not exceed AED200m ($54m).
The Department of Finance will be responsible for approving projects that have a total cost from AED200m to AED500m. Projects valued above AED500m will be approved by the Supreme Financial Policy Committee of Dubai.
Law No 22 aims at encouraging the private sector to participate in the development of projects. It also targets increasing investment in different fields to serve economic and social development in Dubai.
The new law enables the government to implement strategic projects efficiently, as well as harness the financial, administrative, technical and technological expertise of the private sector.
The law seeks to increase productivity and improve the quality of public services. It expects transfer of knowledge from the private to the public sector, as well as training and qualifying Emirati public employees in the areas of management and operation of projects.