Dubai: Ministry of Finance Organizes Workshop on Private-Public Sector PartnershipsSource: www.export-egypt.com 3/19/2017, Location: Middle East |
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Ministry of Finance, MoF, in collaboration with The Word Bank Group, WBG, organised a workshop today in Dubai on the importance of private-public sector partnerships and adopting performance-based contracts between the sectors.
The workshop comes in line with the ministry’s strategy to benefit from international experiences and introduce the UAE’s government entities to the best international practices on private-public sector partnerships. The UAE government entities taking part included the Ministry of Infrastructure Development, Municipality of Abu Dhabi City, Dubai Municipality, and the Roads and Transport Authority. The workshop introduced the new performance-based contracts which help in enhancing services and ensure that developers and contractors receive integrated projects according to the specified plan. The contracts involve a significant shift in the field of private-public partnerships for its key role in identifying the key elements and requirements of contracted projects, and monitoring frameworks for to ensure its quality and alignment with the objectives. Younis Haji Al Khoori, Under-Secretary at the MoF, said, "The ministry recognises the importance of partnerships between the private and public sectors to implement projects in an efficient and effective manner due to the administrative and technical expertise of the private sector. This enhances productivity, improves services and allows for the exchange of information and expertise between the private and public sectors which will serve the UAE’s economic, developmental and social objectives." He added, "Partnerships between the private and public sector are one of the ministry’s key priorities due to its positive impact when implementing and managing government projects, particularly those in infrastructure. These partnerships offer the public sector the opportunity to achieve higher benefits for projects and services which will, in return, achieve the best return on investment for government. It also supports the private sector and rationalises government expenditure on projects which will drive the sustainable economy process in the UAE and reflect the wise leadership’s vision of 2021." The workshop covered the need to include performance-based contracts when designing projects, accomplishing tasks according to the specified budget, and ensuring that contractors receive their fees, which will achieve significant results and returns for both private and public sectors. Participants also reviewed the asset management system which enables government entities to maintain, upgrade and operate assets, combining engineering principles with sound business practices and economic rationale, thus providing tools to facilitate a more organised and flexible approach to making the decisions necessary to achieve the users’ expectations. |
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