The UAE´s Sheikh Mohammed has announced a new law on public-private partnerships (PPP) with the aim to encourage private sector participation in developmental, economic and social projects to improve the quality of public services in UAE.

The new law aims to organize partnerships between public and private sectors, including boost private investment in social and economic projects and enhance project competitiveness locally, regionally and globally.

The announcement of the new law on PPP comes amid reports of the recovery of the UAE economy after the COVID-19 pandemic: UAE foreign trade topped AED1 trillion (US$272 billion) in the first half of 2022, compared to AED840 billion (US$228 billion) billion pre-pandemic.