Thursday 25 February 2021

Dubai RTA draws over $272m in foreign investments in 2020

DUBAI, 6 days ago

Dubai’s Roads and Transport Authority (RTA) had last year managed to attract AED1billion ($272.2 million) worth of foreign investments in infrastructure and services developments projects, through PPP models; and build, operate, finance (BOFT), with several global firms from the US and Europe. 
Some of the major projects include the air-conditioned bus shelters and Union 71 Project.
 Ibrahim Al Haddad, Director of Commercial and Investment, Strategy and Corporate Governance Sector, said RTA was making renewed efforts to develop a comprehensive structure for promoting strategic relationships with the private sector and improving the organisational environment to support long-term public-public partnerships. 
"In particular, these efforts are focused on enticing international partners and foreign investments in the transport sector. To realise these objectives, RTA started on developing smart and innovative solutions for new partnerships in investment and funding transport projects,'' he stated.
According to him, RTA is making relentless efforts to promote its investment relationships with the private sector and realign it with the launch of the ‘Invest in Dubai’ platform, a standard digital platform for establishing a business. 
"It offers a unique experience for practising business in a style befitting smart Dubai. It promises to be the biggest unified platform enabling investors to obtain commercial licenses and start a smooth running of a business in minute," he noted.
"RTA played a key role in implementing the vision of our government and mapped out plans to attract global businesses in the fields of innovation, 4th industrial revolution technologies and infrastructure. Through these efforts, we aim to develop a digital investment front to leverage the transport sector, support the economy, and enhance the competitiveness of RTA’s services," said Al Haddad.
He pointed out that the digital front RTA was planning to launch in the second half of 2021 would seek to attract foreign investments and promote partnership. 
"It will offer an opportunity for the private sector to share ideas and innovative projects. Thus, it will contribute to anticipating future needs of partners, building sustainable partnerships, and creating attractive investment prospects," he noted.
Al Haddad said RTA’s focus on promoting partnerships with the private sector stems from the vision and directives of its leaders to broaden the prospects of sustainable cooperation. 
"It requires the development of simple and resilient procedures, and opening interactive communication channels with investors. The overall objective of these efforts is to motivate the business sector and foster sustainable investments for achieving RTA’s strategic goals," he added.-TradeArabia News Service


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