UAE's private sector engine to drive future: Sheikh Mohammed

Dubai - VP stresses nation must continue developing transportation systems to preserve excellence

The UAE's logistics system is the strongest and most efficient in the region and the private sector is the engine for the future economy, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, said on Saturday.
He said the UAE must continue developing its transportation systems to preserve excellence in this regard.
"We want to achieve another qualitative leap in infrastructure, energy and transportation, and this leap must be under one comprehensive and integrated plan," Sheikh Mohammed said during a meeting with a team from the Ministry of Energy and Infrastructure.
Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs; Mohammed bin Abdullah Al Gergawi, Minister of Cabinet Affairs; and Suhail bin Mohammed Faraj Faris Al Mazrouei, Minister of Energy and Infrastructure, attended the meeting.
"Today, the UAE is the region's biggest hub for business and innovation, and energy and infrastructure projects are key to sustain this distinction," Sheikh Mohammed said. He asserted that the private sector is the engine for future economy and the UAE will continue developing partnership with the private sector in the fields of infrastructure, energy, transportation and housing projects.
Al Mazrouei presented to Sheikh Mohammed and his accompanying delegation the ministry's 10-year plan, aimed at integrating the energy, infrastructure, housing and transportation sectors into one comprehensive asset management system to enhance the services and ensure sustainability.
He also briefed the Prime Minister about the country's pioneering rankings in the energy, infrastructure and housing sectors as the UAE has maintained its first global ranking for the third consecutive year with scores of 100 per cent in all 'Getting Electricity' indicators in the World Bank's Doing Business 2020 report.
The UAE was also ranked first regionally and 12th globally in terms of the quality of infrastructure, and was ranked first regionally and seventh globally in terms of the availability and quality of road and transport infrastructure.
"The new comprehensive asset management system would reduce maintenance costs by 20 per cent," Al Mazrouei said.
He also reviewed the strategy and initiatives for electricity and future energy for the next 50 years.
In a related context, the minister spoke about the objectives of the Federal Centre for Road Network Operations Management, which the ministry is nearing completion.
Al Mazrouei also shed light on the achievements of the citizens' housing sector, its development initiatives, a mechanism for sustainability and meeting future needs, preserving the national gains in that area and the mechanism that works accordingly.
- waheedabbas@khaleejtimes.com