Dubai’s Roads and Transport Authority (RTA) is making renewed efforts to establish a comprehensive framework for fostering strategic relationships with the private sector and enhance the organizational environment to promote long-term public-public partnerships.
These efforts are intended to draw international partners and foreign investments into the transport sector. RTA has started to develop smart and innovative strategies for new collaborations in the investment and financing of transport projects to achieve these objectives.
Ibrahim Al Haddad, Director of Commercial and Investment, Strategy and Corporate Governance Sector, RTA said, “RTA is making relentless efforts to promote its investment relationships with the private sector and realign it with our leaders’ launch of the ‘Invest in Dubai’ platform, a standard digital platform for establishing a business. It offers a unique experience for practicing 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 minutes.”
In 2020, RTA has succeeded to attract foreign investments in infrastructure and services development projects, through the PPP model’s Build, Operate, Finance (BOF) method, with several international companies from the USA and Europe, have invested more than $272 million (AED one billion). Some of these projects include the air-conditioned bus shelters and the Union 71 Project.
“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. The digital front we are planning to launch in the second half of 2021 will 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.”
“RTA’s focus on promoting partnerships with the private sector stems from the vision and directives of our 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,” concluded Mr. Al Haddad.