The Minister of Cabinet Affairs and Chairman of the World Government Summit Foundation, Muhammad Abdullah Al Gergawi, affirmed that the UAE, under the leadership of His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the State, has consolidated its position as a supporter of the efforts of governments to prepare for important transformations and take decisive decisions that contribute to shaping a better future for peoples. Pointing out that the UAE government is keen to embody the visions of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, aimed at the participation of the world in efforts to enhance the readiness of governments to anticipate the trends of the next decade.
This came during the World Government Summit Foundation’s launch of a knowledge report entitled: “Critical Decisions for Government Leaders in a Changing World”, prepared in partnership with the National Institute for Transitions – Kearney Middle East, as part of the annual meeting of the World Economic Forum in Davos. The report identifies four main axes. It underpins today’s world for governments.
Al Gergawi added that the current reality is completely different from the world before the “Covid-19” pandemic, in which governments are entering a new decade of rapid changes at the economic, social, technological and health levels, which requires strengthening proactive strategic thinking, and developing comprehensive plans to design and develop future policies in line with global developments.
Al Gergawi said that the “Critical Decisions” report represents a purposeful cognitive effort to support future governments in facing the challenges of tomorrow, and reflects the leading role of the World Government Summit Foundation in inspiring future governments and enhancing the ability to foresee and deal from today with future challenges, by focusing on the most prominent challenges that enable industry makers. The decision is based on readiness and enhancing government readiness and flexibility to deal with it and accelerating development towards the coming years.
Radical changes and unfamiliar challenges
The report reviewed the radical changes that coincided with unfamiliar challenges such as climate change, cyber security and the rise of public debt, which require a new style of dealing with them, and require a different approach to making critical decisions, preparing for emergencies by converging views with actors and anticipating global challenges, in addition to Foreseeing the future of artificial intelligence.
The report focuses on four main dimensions that affect the decision-making process, including: strategic shocks with sudden and rapid changes affecting societies and interfering with the government work system, the growing divisions that emphasize the need to achieve balance to organize new sectors, and transformational trends that need to re-engineer government systems through The use of new worlds, in addition to policy accelerators that require governments to accelerate the pace of government legislation and policies to continue future development.
Rudolph Le Maire: The report provides an integrated view for leaders and decision makers to create impact and achieve results
Rodolphe Le Maire, Partner and Director of the Institute for National Transitions – Kearney Middle East, said: “In times of volatility and change, decisions made – or not made – lead to outcomes that have a significant long-term impact. Launched in partnership with the World Government Summit Foundation, an integrated view of leaders and decision-makers to be able to achieve the desired impact and reach the desired results by taking the required proactive decisions in a timely manner. In some cases, early decisions and actions contribute to avoiding crises or building the resilience required to address them. In many other cases, being proactive in critical decision-making allows opportunities to be exploited to achieve strategic advantages.”
Key challenges for policy makers
The “strategic shock dimension” includes five main challenges that government decision-makers must be aware of and prepare for: the inflation challenge, mass migration waves, the energy crisis, and food protectionism, in addition to the international conflicts that have emerged during the current year.
The report pointed out that the main challenges facing policy makers around the world are how to contain rising inflation, without impeding employment growth in various societies. The central challenge is that the fiscal adjustments required to slow inflation may impede growth in economic sectors that are still recovering from the effects of the emerging Corona pandemic. Delays in finding solutions to inflation may undermine market expectations, which will cause high risks of stagflation, to Besides the rise in commodity prices.
The report pointed out that geopolitical developments create a number of challenges for governments, such as mass migration waves, which are caused by political instability, food insecurity, climatic disasters, and others, calling on government leaders to “evaluate the adaptive and absorptive capacities of their countries at the economic, social and political levels in a preventive manner and strengthen them in a preventive way.” proactively, to prepare for events that may lead to migration.
A global system for securing energy and food
The report expected that the consumption of major energy resources globally will increase by 50% by the year 2050, which confirms the importance of taking urgent measures to secure energy security in the short term, while maintaining flexibility in the long term, to improve long-term investment prospects and equitable distribution of energy sources, and added that countries can Enhancing energy resilience through partnerships that integrate energy infrastructure, exchange technology technologies, accelerate investment in strategic industries, and follow methodologies that ensure flexibility in energy security and enhance readiness for the future.
The report pointed out the importance of considering the current circumstances to ensure the improvement of food security worldwide in the coming decades by strengthening partnerships that support food supply chains and facilitate the import of basic foodstuffs such as wheat, barley, corn, agricultural commodities and other foodstuffs.
growing divisions
The second dimension covered by the report includes the growing divisions, and has a number of major challenges, including: trust in governments, the balance between respecting freedoms and maintaining order, debt management, and the complexities of imposing sanctions, in addition to the financial system between digital currencies and cryptocurrencies.
The report focused on the necessity of regulating cryptocurrencies, and balancing their role in the financial system compared to traditional currencies and digital currencies of central banks, which requires government leaders to cooperate and find solutions to address government and corporate debt and work on coherent institutional, regulatory and political frameworks to develop strategies that address national priorities and seek to Solve the trade-off between financial innovation on the one hand, and financial stability, equity and justice on the other.
Boosting trust in governments
The report pointed out the importance of enhancing trust between governments and their citizens after the effects of the pandemic and the ability of governments to deal with the repercussions of the pandemic to increase the level of trust in governments to more than 65% that the world achieved in 2020, and to ensure the progress of governments in gaining confidence in companies and non-governmental organizations.
He pointed to the importance of the role of governments in developing innovative approaches that enhance confidence in them, in areas such as the regulation of metaverses, the space exploration race, data management and artificial intelligence to support the principles of future foresight in decision-making, respond to major shifts in labor patterns and markets, and ensure the security of society.
transformational trends
In the third dimension, which focuses on transformational trends, the report stressed the need for government intervention in finding solutions to challenges that include cybercrime networks, transparency during wars, metaviral governance, oversight of technology companies, responding to low-cost challenges, in addition to regulating space competition.
The report addressed the most important challenges facing global digital economic growth, with digital developments and expansion, the importance of protecting data and government systems from external influences, strengthening integration and cooperation to adopt international legislation, and taking decisive measures to cooperate in combating technical crimes.
He pointed to the increasing importance of the world of metavirs, whose market size is estimated at 800 billion US dollars in 2024, and will become larger, so that individuals live in it and participate in social interaction and economic activity on a large scale, so that the lives of individuals change just as happened with the beginning of the entry into the world of the Internet, and stressed By 2026, 25% of people are expected to spend an hour a day in the metaphysics world.
He pointed out that technology companies are experiencing steady growth, becoming an integrated digital system that covers sectors, and bypasses regulatory agencies, which requires governments to move quickly to work with them, and to determine courses of action, as a number of countries and governments have followed these paths during the past years, as 38 countries started the reforms that Influencing data management firms, 21 countries have suggested acting to defend against competition.
The third dimension focuses on the need to develop a security infrastructure to preserve the transformative capacity of space, in order to ensure the regulation of competition in this vital sector, which is expected to reach a trillion dollars by 2040, while private investment in space infrastructure companies during 2021 amounted to about $14.5 billion, an increase of 50% from 2020.
Policy Accelerators
The fourth dimension of the report focuses on policy accelerators and their role in enabling governments to accelerate the pace of legislation and policies that ensure progress, and find solutions to challenges that include: decentralization in decision-making, job motivation, digital taxes, anti-corruption technology, and artificial intelligence management, in addition to fulfilling climate commitments. .
The report stated that the labor market witnessed many changes during the past few years, and the economic changes that resulted from the Covid-19 pandemic, as the priorities of employees changed, and their interest in the need to balance work and life, which was reflected in the departure of many of them from their work, as these individuals constituted two-thirds of the people who They resigned during 2021, due to their desire to enhance the flexibility of their work, while 73% of individuals want to have remote work options.
The report also referred to the challenges of achieving the sustainable development goals set by the United Nations, specifically related to climate change, and the importance of the role of government leaders in working with major companies responsible for large proportions of emissions and working collaboratively to accelerate zero carbon emissions.
He pointed out that the tremendous growth witnessed by companies and private sector institutions, needs to redesign tax policies, which government leaders realize, and indeed the year 2021 witnessed great progress when the members of the Group of Twenty approved a bilateral solution and an implementation plan to meet the challenges of digital taxes, especially since it was appreciated The digital economy is valued at 15.5% of global GDP, growing 2.5 times faster than global GDP over the past 15 years.
Building the foundations of the future
The report presented a number of recommendations and decision-making points for governments, to ensure the strengthening of partnerships with various sectors, companies, and leading and technological institutions in the private sector, to ensure the development of government work and push it towards a new stage and to overcome challenges by leading government efforts more effectively and preparing for various future scenarios.
The report contributes to highlighting the most important solutions that governments can adopt, by building their strategic advantages, enhancing flexibility and accelerating its development, in order to ensure building the foundations of a future that meets all needs and lives up to the aspirations of individuals.
It is noteworthy that the UAE participates with a high-level delegation in the activities of the annual meeting of the World Economic Forum, which includes a number of ministers and officials in the federal government, and senior officials in the government of Abu Dhabi and the government of Dubai, while 7 ministers in the government of the UAE speak in key sessions covering the most vital future sectors .
The forum focuses on 6 main axes, including restoring global order and regional cooperation, ensuring economic recovery and foreseeing a new era of growth, building healthy and just societies, protecting the climate and food and nature sources, leading the industrial transformation, and harnessing the potential of the Fourth Industrial Revolution.
A global platform for the future industry
It is worth noting that the World Government Summit Foundation hosted, as part of the World Government Summit 2022, which was organized last March under the slogan “Foresight of Future Governments”, more than 4,000 participants from around the world, constituting elite government officials, leaders of the private and academic sectors, and experts. And specialists, and innovators to discuss global trends and changes, and foresee the future within 110 key sessions and 15 global forums.
Since its launch, the World Government Summit Foundation has focused on shaping and foreseeing future governments and building a better future for humanity, and has contributed to establishing a new system of international partnerships based on inspiring and foreseeing future governments.
#World #Government #Summit #Foundation #launches #report #Critical #Decisions #Government #Leaders #Changing #World