Dubai's transport authority said on Thursday that it is increasing its efforts to develop partnerships with the private sector after attracting more than AED1 billion ($272 million) in foreign investment last year.
The Roads and Transport Authority (RTA) said is making renewed efforts to develop a comprehensive structure for promoting strategic relationships and is focused on enticing international partners and foreign investments in the transport sector.
To realise these objectives, RTA added that it is developing smart and innovative solutions - to be launched in the second half of this year - to attract more investment from overseas.
“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,” said Ibrahim Al Haddad, director of Commercial and Investment, Strategy and Corporate Governance Sector, RTA.
In 2020, RTA attracted foreign investments in infrastructure and services developments projects, with several global firms from the US and Europe exceeding AED1 billion.
Examples of these projects include the air-conditioned bus shelters and Union 71 Project.
Al Haddad added: "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."
“The overall objective of these efforts is to motivate the business sector and foster sustainable investments for achieving RTA’s strategic goals,” he added.Read the full article