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Ministry of Energy and Infrastructure sees 140% rise in proceeds in H1 2021

August 2, 2021
oil and gas

DUBAI, 1st August, 2021 (WAM) -- The Ministry of Energy and Infrastructure has reported a 140 percent rise in proceeds during the first half of 2021, a product of its investment in commercial activities and in private sector projects, including leased areas on roads, rest areas and advertising.

This growth marks the start of the recovery from the COVID-19 pandemic and the gradual return to normalcy.

Hassan Mohammed Al Mansouri, Under-Secretary of Infrastructure and Transport Affairs at the Ministry, stated that the ministry aims to enlarge the scope of its investments to include energy, infrastructure, housing and transport, in line with the vision of the UAE’s leadership and the country’s objectives for the next 50 years.

The ministry is planning to develop an e-platform that will share investment opportunities with investors and facilitate contracts, to support the UAE Government’s digital transformation goals, he added.

The directives of Suhail Al Mazrouei, Minister of Energy and Infrastructure, aim to enhance the ministry’s partnership with the private sector and other active players in the investment sector, he noted.

'This growth falls within the framework of the ministry’s keenness to encourage investment in outdoor advertising, and it has developed innovative solutions to reinforce this market by involving the private sector in advancing the energy, infrastructure, housing and transport sectors,' Al Mansouri said.

The ministry recently conducted a survey, whose outcomes predict the expected recovery of the outdoor advertising market and increased demand in the fourth quarter of 2021.

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