MoF to organise sessions on economy, development

Ministry of Finance (MoF) will highlight UAE’s leading financial and economic model and the importance of strengthening financial ties with the Arab nations and others during the World Government Summit 2017.

The summit which is being 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, will take place from 12th to 14th February.

The Ministry will cover the prominent topics included in the agenda of the Fifth World Government Summit, such as the economy and the finance to develop a future strategy and support areas for development at the local, regional and international levels.

Obaid bin Humaid Al Tayer, Minister of State for Financial Affairs, stressed the Ministry’s commitment to its role as a strategic partner in the preparations for the World Government Summit and its support to ensure the success of the summit both regionally and globally.

"Our participation in the World Government Summit is an opportunity to showcase our support of financial development, as the summit is a leading regional and international platform, attended by government leaders and decision makers, as well as the leaders of the private sector, to discuss development based on future trends," Al Tayer said.

The Ministry will continue its preparations for the World Government Summit in collaboration with the Arab Monetary Fund, AMF, and the International Monetary Fund, IMF. Al Tayer will deliver the opening speech during the summit, and the sessions will be attended by Younis Haji Al Khoori, Undersecretary of MoF; Khalid Ali Al Bustani, Assistant Undersecretary for International Financial Relations at the MoF; and other MoF leaders, who will discuss financial topics and practices that can be transferred as knowledge to the MoF employees.

Among the most important sessions organised by the Ministry is a high-level closed session on 'Economic Diversification' with the Prime Minister’s Office and IMF, to be held on the first day of the World Government Summit.

The session will support decision makers in developing and implementing policies for economic diversification, considering the decline in oil prices and the need for oil exporting countries to change their economic models and build a knowledge-based economy through innovation.

The Ministry of Finance, in collaboration with IMF, will hold a session on FinTech, or financial technology, on the second day of the World Government Summit.