Press Releases
05 Apr 2022
RTA signs MoU with Enterprise Singapore
(The MoU aims to benefit from top-notch practices of the transport industry)
Dubai’s Roads and Transport Authority (RTA) has signed a Memorandum of Understanding (MoU) with Enterprise Singapore, the industry leader in enterprise development. The MoU aims to benefit from the best trading and investment practices of public transport and mobility in Singapore.
Nasser Abu Shehab, CEO, Strategy and Corporate Governance Sector, RTA, and G. Jayakrishnan, Enterprise Singapore’s Global Markets Executive Director for the Middle East & Africa, signed the MoU on behalf of the respective entities.
“The MoU set several common objectives that include identifying investment/commercial tangible projects that can contribute to RTA’s strategic objectives. It called for jointly identifying and creating opportunities within RTA projects for companies in Singapore to partner with them for implementing those projects while adhering to procurement policies and processes. It called for collaboration to identify the scope and market of Public-Private Partnership projects for direct investment by Singapore companies. The MoU called for organising a series of outreach events to create awareness of the opportunities and landscape in RTA and Singapore,” added Abu Shehab.
G. Jayakrishnan, Enterprise Singapore’s Global Markets Executive Director for the Middle East & Africa, said “The signing of this MOU underscores the longstanding relationship between RTA and ESG. As Dubai sets out to further enhance its transport system, Singapore companies can look forward to opportunities in innovation, technical cooperation and investments in clean energy mobility, intelligent transport, smart road infrastructure and fuel cell technology. ESG will work with RTA to identify potential project leads to facilitate such collaboration.”
Enterprise Singapore develops enterprises, collaborates with international companies and supports the growth of the Republic of Singapore as a major hub for international trade and start-ups.
RTA is keen to support partnerships with the private sector and improve the regulative environment to develop long-term partnerships to attract international partners and foreign investments. It is also keen on developing smart and innovative solutions for new partnerships in investment and funding transport projects.
In 2020, RTA managed to attract foreign investments worth more than AED 1 billion through joint ventures with several global firms in projects aimed to support the infrastructure and improve the services to public transport users.