The Ministry of Finance is participating in the activities of the “World Government Summit 2024”, which will be held from February 12 to 14 in Dubai, under the slogan “Foreseeing the Governments of the Future,” with the participation of more than 25 heads of state and government, 120 government delegations, and more than 85 international and regional organizations. An international institution, in addition to an elite group of global thought leaders and experts, in the presence of more than 4,000 participants.
Minister of State for Financial Affairs, Mohammed bin Hadi Al Husseini, said: “The Ministry of Finance’s participation in the World Government Summit reflects its keenness to enhance dialogues, discussions, and exchange of visions aimed at financial empowerment, sustainability, anticipating the future, and innovation, and its efforts to support government visions and directions aimed at developing the government work system in the country.” The Emirates, and sharing its civilizational model with other countries.”
He stressed the Ministry's keenness to actively participate during all previous sessions of the World Government Summit, given the importance of that participation in supporting the summit program by harnessing the Ministry's relations with the most important international financial institutions, participating in specialized sessions, and launching international financial reports in this global event, which is considered one of the most prominent. Global platforms concerned with discussing future prospects and challenges of government work around the world.
Al Husseini added: “Based on our tireless endeavor to develop the government financial work system in the United Arab Emirates and promote growth and prosperity in the world, we are discussing with the guests of the summit the best leading and innovative financial models that support the well-being of the people of the region and the world, and take into account sustainability, and we will continue with our partners to build communication channels.” And dialogue because of its importance in supporting financial issues that form the basis of comprehensive economic renaissance.”
On the preliminary day of the summit, the Ministry of Finance will organize the “eighth session of the Public Finance Forum for Arab Countries” in cooperation with the Arab Monetary Fund and the International Monetary Fund, on February 11, 2024. The forum will be held in the presence of finance ministers and central bank governors in Arab countries, and in the presence of Kristina Georgieva, Director General of the IMF. International, Dr. Fahd bin Mohammed Al Turki, Director General and Chairman of the Board of Directors of the Arab Monetary Fund, and more than 100 participants from senior officials and specialists in regional and international institutions.
The Director General and Chairman of the Board of Directors of the Arab Monetary Fund, Dr. Fahd bin Mohammed Al Turki, stressed the importance of the forum as a forum to enhance opportunities for exchanging experiences and expertise between Arab countries to discuss financial policy challenges in the context of current economic and financial developments, noting the efforts made by the competent authorities in Arab countries to enhance stability. Economic and financial opportunities for comprehensive and sustainable growth.
The Ministry of Finance’s participation will witness the signing of partnership and cooperation agreements, and the holding of a number of bilateral meetings with regional and international financial leaders. During the World Government Summit, the Ministry of Finance will organize a number of specialized dialogue sessions, to discuss the most prominent global financial trends, and exchange global government expertise and experiences in this sector, with the aim of contributing In achieving the state’s vision of developing the government work system and building a sustainable economy.
The Ministry of Finance is also organizing a high-level closed session on “Climate Action by Promoting Sustainable Finance,” in cooperation with the International Monetary Fund as a strategic partner.
The session aims to enhance the ongoing discussions on climate finance by examining the contributions of recently pledged climate finance initiatives to meeting identified financing needs and the additional steps that must be taken to bridge the remaining gap. It is expected to discuss solutions to enhance the readiness and flexibility of the financial sectors to unleash the potential of private climate finance. , including the role of policymakers in mitigating climate-related risks in financial sectors and developing local capital markets.
The first day of the Ministry of Finance’s participation in the World Government Summit will also witness a session followed by a press conference to launch the International Monetary Fund report entitled “Preparing the Financial Sectors for a Green Future.” The Ministry concludes its participation on the first day with a high-level closed session on mobilizing private sector financing for development in cooperation with the World Bank Group. The session will highlight how to enable governments to mobilize financing for the private sector for development, while mitigating risks and ensuring alignment with national strategies and goals. development, and learn about the success stories of various governments in benefiting from the great potential of the private sector and enhancing the business environment for development.
Design more efficient financial policies
The “Public Finance Forum for Arab Countries” is held under the title “Designing More Efficient and Fair Fiscal Policies to Address Debt-Related Vulnerabilities and Future Financial Challenges in a World Suffering from Stricter Financing Constraints,” and includes four dialogue sessions: the first entitled “Macroeconomic Developments and Prospects,” The second is entitled “Success Stories in Energy Subsidy Reforms and Social Safety Nets,” while the third session is titled “How Do We Create Value from Public Assets?” The fourth session is titled “Generating Revenues from Tax Reforms,” and the fourth session evaluates tax administration reforms in The Arab region, in addition to discussing the challenges specific to the region for developing effective tax administration.
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