According to the Ministry of Finance, the new law will ensure ‘world-class services at the best value’ for the community
A new law issued in the UAE regulates public-private partnerships. In addition to setting the general framework for partnerships between federal government entities and the private sector, the law encourages companies to participate in developmental and strategic projects; and increase investment in federal government projects of “social and economic value”.
According to the Ministry of Finance, the new law will ensure “world-class services at the best value” for the community.
The law, which entered into force on December 1, 2023, applies to any partnership project that is proposed by a federal entity and wholly or partially funded by the private sector. It specifies exemptions, which include partnership contracts that were entered into before the law’s enforcement date; outsourced services specified in the Partnership Projects Manual; projects whose value is less than the limit specified in the manual; public asset and service privatisation projects; as well as supply and procurement contracts related to national security specified in the manual; and federal entities, sectors, and projects that are exempt pursuant to UAE Cabinet decisions.
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