Dubai has passed a new law to boost public-private partnerships in a bid to encourage the private sector to participate in development projects, and increase investment, a report said.

The law aims to reduce the financing demands on the government and ease knowledge transfer between the public and private sectors, added the report in The National.

The move is also designed to “to serve the economic and social development” of Dubai by boosting investment in the emirate, the report said, citing a government statement.

Dubai has lined up a number of massive infrastructure projects, including investments worth about $40 billion in airports until 2022.