Dubai government expands opportunities for the private sector, as it restricts the expansion of state-related entities.
Dubai is controlling the number of state-related entities to help support the expansion of the private sector and its economic growth.
To assist with the governments already initiated attempts to reevaluate the role of the public and private sectors, state-related businesses will now only be established to help fulfill national security or governmental need. The government will only intervene in situations where the private sector is incapable of providing the services or goods needed or where the government may achieve a better result.
The higher committee is working on demand and supply projections, offering guidance on areas where private companies can potentially handle more responsibilities. Alongside this, new government companies are being expected to operate without governmental bias, to help decrease any further gain over private-sector partners.
Jimmy Haoula, Managing Partner of BSA, says “It is great to see the positive approach from the government by offering a level playing field for the private sector in the UAE, helping to enable a fair game of competition for the big players in the market.”
Adding, “there is hope that with this new outlook the private sector can continue to create both new jobs and opportunities, as well as help to increase economic development within the region.”