The Ministry of Finance (MoF) will hold a series of meetings and sessions alongside the 6th World Government Summit (WGS), held under the patronage of HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, on February 11-13, 2018. MoF will also participate in the 3rd forum of public finance in Arab States organised by the Arab Monetary Fund (AMF) in cooperation with the IMF on 10 February.
HE Obaid Humaid Al Tayer, Minister of State for Financial Affairs stressed the keenness of the Ministry to organise these sessions and discussions/meetings to discuss issues that concern the nation and the region and to allow constructive dialogue that develop future strategies based on clear data and insights to take place. In addition, these sessions will serve to highlight the UAE’s leading economic and financial model and strengthen its network of financial relations at various regional and international levels.
HE said: "The World Government Summit is an important platform for exchanging experiences and knowledge, bringing together government leaders, decision-makers, thought leaders and the private sector to discuss the risks and challenges facing our Arab economies, develop appropriate solutions and develop the future of governments, based on the latest developments and future trends."
During the first day of the WGS, the Ministry will hold a high-level closed discussion on basic income. The second day will include an open-ended discussion on "Financial Services Technology" and another open-ended discussion to discuss the public-private partnership in health care.
HE Obaid Humaid Al Tayer, Minister of State for Financial Affairs, and Christine Lagarde, Managing Director of the IMF will lead the closed discussion, in the presence of ministers and senior officials and specialists in financial, economic and social affairs from all around the world. This discussion aims to examine/review the expertise and experience of the participating countries and their views on global basic income and organisational governance and employee pay. This comes because of the need to modify prevailing social and economic models given current changes in policy and technological development and the focus on the government being a major employer and supplier of energy or comprehensive social benefits.
As MoF takes a keen interest in "Financial Services Technology," the open-ended discussion will be held on the second day of the WSG to discuss legislation on financial services technology, identify challenges to compliance and how technology can facilitate and improve regulatory compliance for both office-holders and start-ups. The discussion will also confer the importance of taking advantage of emerging technologies to enhance public sector capabilities and make regulation more effective.
The open discussion on public-private partnership in health care will address a number of important topics such as the best models of public-private partnerships, roles to be played by officials, ministries and regulatory bodies, as well as the types and levels of payment methods, revenue streams and payment models to be used. The discussion will review the latest developments in infrastructure development that focus on private sector investment, to increase economic growth and achieve sustainable development goals. It will consider critical issues including improved governance and integrity, and the introduction of new investors through a combination of funding as well as the role of multilateral development banks and government perspectives to build joint cooperation.
MoF, AMF and IMF are organising the 3rd forum of public finance in Arab States through a series of meetings and sessions in the presence of the Managing Director of the IMF and Excellencies the Arab finance ministers, a group of senior officials and experts from regional and international financial institutions, ministries of finance and central banks in the Arab countries.
On the sidelines of/alongside the forum, the ministry will hold a session with the youth, and a working lunch with businesswomen in the country. In addition, MoF will hold a dialogue session on sustainability, in which the challenges of fiscal policy and economic growth in the Arab region will be discussed in the context of regional and international economic and financial developments, the most important of which are the low oil prices and weak global growth.