Dominican Republic and Costa Rica join UAE in prioritising PPPs amidst economic recovery
Ministers from Dominican Republic and Costa Rica addressed the Global Business Forum Latin America in Dubai where they discussed opportunities for economic reform and innovative financing solutions.
• Initiatives discussed on day one of fourth edition of GBF LATAM organised by Dubai Chamber of Commerce in partnership with Expo 2020 Dubai.
Dubai, UAE: Public-private partnerships (PPPs) are proliferating in the post-COVID era and diversifying growth opportunities for economic recovery, according the government officials from the Dominican Republic and Costa Rica who addressed delegates today at the Global Business Forum Latin America (GBF LATAM) 2022 in Dubai.
In a session titled Reforming for Future Growth, H.E Rodolfo Solano Quirós, Minister of Foreign Affairs and Worship for Costa Rica and H.E Miguel Ceara, Minister of Economy, Planning and Development for the Dominican Republic, discussed the importance of innovative financing solutions such as PPPs. Similar to the UAE, the two countries expressed interest to continue engaging with the private sector to renew economic growth.
“The Latin America region requires USD 30 million in different projects of infrastructure and energy. We need PPPs,” asserted H.E. Quiros. “And in this regard, the UAE has a great opportunity to understand that Latin America is closer than ever. The country already possesses a comprehensive legal framework, so we need to incorporate a new generation of free trade agreements that account for decarbonisation, digitalisation and decentralisation.”
H.E. Ceara agreed that a similar outlook is the key to guiding economic recovery and reform in the Dominican Republic. As one of the fastest growing economies in Latin America, the country recently benefitted from a robust regulation for the commencement, selection, award, procurement, execution, follow-up, and implementation of PPPs. By leveraging financial opportunities from markets like the UAE, the Caribbean country hopes to further attract foreign investment through innovative opportunities and consequently generate considerable progress.
Held under the patronage of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, GBF LATAM 2022 is organised by Dubai Chamber of Commerce in partnership with Expo 2020 Dubai.
Bearing the theme Towards a Resilient Future, the two-day forum is bringing together heads of state, ministers, government and business leaders and industry experts together to discuss and explore new avenues of economic cooperation between the UAE and Latin America.
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