{"id":88150,"date":"2024-01-19T00:00:00","date_gmt":"2024-01-19T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/a-new-law-for-public-private-partnerships\/"},"modified":"2024-01-19T00:00:00","modified_gmt":"2024-01-19T00:00:00","slug":"a-new-law-for-public-private-partnerships","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/01\/19\/a-new-law-for-public-private-partnerships\/","title":{"rendered":"A new law for public-private-partnerships"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>PPPs now have a legislative framework<\/strong><strong>: <\/strong>The Finance Ministry has set a new legislative framework to regulate public-private-partnerships (PPPs) in a push toward boosting the role of the private sector in national projects, according to a ministry <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/ministry-of-finance-uae_mofuae-activity-7153653207628496896-QWo7?utm_source=share&utm_medium=member_desktop\" style=\"\" rel=\"noopener\">statement<\/a>. The law came into effect on 1 December.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details: <\/strong>The new law aims to boost investments in valuable government initiatives, and leverage private sector expertise and technology to increase the efficiency of strategic projects, state news agency <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b17pjp3-mof-announces-issuance-new-federal-decree-law#:~:text=In%20addition%20to,the%20private%20sector.\" style=\"\" rel=\"noopener\">Wam<\/a> reports. It will also \u201caccelerate the implementation of projects that offer an added value for public funds, minimize financial and operational risks on the government, transform the management of some infrastructure projects and public services, and enhance the competitiveness of projects in local, regional, and global markets,\u201d Wam said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What are the types of partnerships subject to the new law? <\/strong>The law applies to any partnership project \u201cproposed by a federal entity and wholly or partially funded by the private sector.\u201d According to <a target=\"_blank\" href=\"https:\/\/www.nrdoshi.ae\/\" style=\"\" rel=\"noopener\">NR Doshi and Partners<\/a>, those can include:<\/p>\n<ul>\n<li>Build, operate, transfer (BOT) frameworks;<\/li>\n<li>Build, own, operate, transfer (BOOT) frameworks;<\/li>\n<li>Build, own, operate (BOO) frameworks;<\/li>\n<li>Build, own, lease, transfer (BOLT) frameworks;<\/li>\n<li>Financial benefit from assets;<\/li>\n<li>Management contracts.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Exemptions: <\/strong>The law excludes public asset and privatization projects, supply and procurement contracts related to national security, as well as public companies and government-affiliated bodies and projects. The law also will not be applied retroactively. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background: <\/strong>Before this law existed, public-private partnerships were governed by a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/1\/1594.pdf\" style=\"\" rel=\"noopener\">decree (pdf)<\/a> the cabinet had issued in 2017. The Dubai and Abu Dhabi governments had also individually adopted PPP laws, with the former <a target=\"_blank\" href=\"https:\/\/u.ae\/en\/information-and-services\/business\/public-private-people-partnership\/public-private-partnership\" style=\"\" rel=\"noopener\">issuing<\/a> a law in 2015 and the latter issuing one in <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/details\/1395302872191\" style=\"\" rel=\"noopener\">2019<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">OTHER LEGISLATION NEWS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/uaqchamber.ae\/\" style=\"\" rel=\"noopener\">Umm Al Qaiwan Chamber of Commerce and Industries<\/a><\/strong><strong> will<\/strong><strong> undergo a <\/strong><strong>restructuring <\/strong>under a new decree issued by Umm Al Qaiwan Ruler Sheikh Saud bin Rashid Al Mu\u2019alla, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b17pk3h-uaq-ruler-issues-law-restructuring-uaq-chamber\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The restructuring comes in a bid to elevate the emirate\u2019s economic growth by attracting new investments and developing local industries, Wam said. The law is expected to come into effect after it gets published in the Official Gazette. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>The law was enacted on 1 December 2023<\/p>\n","protected":false},"author":1,"featured_media":88151,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1563],"tags":[7,11,134,669],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-88150","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legislation-watch","tag-enterpriseam-uae","tag-finance-ministry","tag-legislation-watch","tag-public-private-partnership","wpautop","entry"],"acf":{"mongo_id":"7cf3c3db-8c9e-4de8-af5b-f58f103e6e88","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/1\/1589.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Finance ministry issues new PPP regulatory framework","related_issue":[88139],"teaser":"The law was enacted on 1 December 2023","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.975b4cc7-1bc6-42fd-a1ca-ed3ac84f3f25.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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