The UAE has announced a new law on partnership between the public and private sectors. This came as His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, chaired a Cabinet meeting on Sunday.
“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,” Sheikh Mohammed tweeted at the end of the meeting.
More details about the law are expected to be revealed later today.
In a series of tweets, Sheikh Mohammed highlighted how the UAE has overcome the effects of the Covid-19 pandemic. He said the country’s economic growth has been higher than it was prior to the pandemic.
Global trade has not yet regained its strength, but the UAE’s economy has, Sheikh Mohammed said.
He said the UAE’s non-oil foreign trade recorded a new achievement in the first half of this year as it clocked Dh1.053 trillion — for the first time in history.
The UAE is the first globally in 156 indicators, including in attracting talent, infrastructure and legislations, he added.