Driving Progress: The UAE’s Blueprint For Public-Private Partnerships Offers Lessons For Western Nations – Entrepreneur

Driving Progress: The UAE’s Blueprint For Public-Private Partnerships Offers Lessons For Western Nations – Entrepreneur

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Despite being a relatively young country, the UAE has established itself as one of the fastest-growing, most modern nations on the global stage. And while its exemplary innovation, world-class infrastructure, and towering skyscrapers are certainly factors behind this, the government's commitments to public-private partnerships (PPPs) –collaborations with the private sector– have played a significant role.As 2024 is set to mark the end of a lukewarm half-decade in global economic growth, more Western governments should follow in the UAE's footsteps and establish more partnerships with the private sector. Plus, considering the financial distress currently afflicting their private sectors (over 47,000 UK businesses teetered on collapse by the end of 2023, according to Bloomberg), government support, in the form of PPPs, could supercharge private enterprises past stagnation.Throughout the course of its roughly 53-year history, the UAE has seen commendable economic growth. And, even beyond the pandemic-struck 2020, it defied the global picture, recording annual growth of 4.4% in 2021, and 7.9% in 2022. While I understand that there are many reasons for this (Global Data says its construction market alone is valued at approximately