The UAE Ministry of Finance, under the leadership of Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs, has announced the implementation of transformational projects aimed at supporting the country’s transition towards the future and enhancing its competitiveness. These projects align with the’We the UAE 2031′ vision and the UAE’s goal of becoming a global hub for the new economy in the next decade. The projects are focused on achieving significant positive impacts across all sectors in a short period, accelerating the government’s foresight objectives, and achieving key national indicators of the vision.
Minister Al Hussaini highlighted the UAE’s commitment to developing governmental work to meet future requirements through digital transformation. The Ministry is focusing on adopting new methodologies and ways of working to achieve a quantum leap in project implementation, budget preparation, and resource management. Efforts are being made to enhance government services to improve the competitiveness of the economic environment and attract foreign investments. One of the key initiatives is empowering Emiratis to represent the UAE internationally, creating opportunities for them to lead and participate in various international forums.
The first project being implemented is’Developing the Local Debt Capital Market in the Country’, in collaboration with the Central Bank of the UAE. This project aims to establish programmes for issuing local public debt instruments such as bonds and Islamic treasury sukuk in dirhams, primarily trading them in the primary and secondary local markets. The goal is to build and enhance the yield curve in UAE dirhams, provide reference pricing points for local financing operations, and develop a highly efficient financial market in the UAE. This initiative will help enhance market activity, expand the investor base, and foster growth in the financial sector.
Another significant project the Ministry is working on is’Enhancing the Presence of Specialised Emirati Leadership in the Financial Field at International Forums’. This joint project with the Ministry of Foreign Affairs aims to empower national talents to occupy leadership positions within international organisations, committees, and federations linked to the UAE’s agenda. By investing in national talents, the UAE seeks to enhance its presence in international forums, shape strategic decisions, and build economic partnerships worldwide. Through the leadership and membership of national talents from the Ministry of Finance, the UAE aims to strengthen its presence in various international organisations, forums, and boards of directors.
Overall, the UAE Ministry of Finance’s initiatives under Mohamed bin Hadi Al Hussaini’s leadership demonstrate a commitment to driving sustainable development, enhancing competitiveness, and fostering innovation in the financial sector. These transformational projects are crucial in supporting the UAE’s vision for the future and positioning the country as a global leader in the new economy. Through these efforts, the UAE aims to achieve key national indicators, attract foreign investments, and empower national talents to contribute significantly to the country’s growth on the international stage. The Ministry’s focus on digital transformation and developing government services underscores its dedication to meeting the evolving needs of the nation and staying ahead in an ever-changing global landscape.
