Latest news with #FundfortheFuture
Hi Dubai
12-02-2025
- Business
- Hi Dubai
UAE Ministry of Finance Hosts High-Level Discussions at WGS 2025
The UAE Ministry of Finance (MoF) inaugurated the World Government Summit (WGS) 2025 with two high-profile panel discussions focused on multilateral cooperation and economic resilience. Held from February 11 to 13 in Dubai, the summit convened global policymakers, financial experts, and senior officials to explore strategies for fostering economic stability and growth. Mohamed Hadi Al Hussaini, Minister of State for Financial Affairs, emphasized the UAE's commitment to strengthening international financial collaboration. 'With the growing global economic challenges, there is a need to reshape multilateral cooperation mechanisms and boost coordination between financial institutions and governments,' he stated. He highlighted the role of fiscal policies, sustainable investments, and financial technologies in ensuring economic resilience. In collaboration with the International Monetary Fund (IMF), the MoF hosted a session titled 'Reimagining the Future of Multilateral Cooperation and the Fund for the Future.' The discussion, featuring Al Hussaini, IMF Managing Director Kristalina Georgieva, and key finance ministers, addressed economic inequality, climate change, and geopolitical challenges. Participants underscored the necessity of innovative financing mechanisms and an expanded global financial safety net to support developing economies. Another session, 'Enhancing Resilience: Shaping the Future of the GCC Economy Amid Regional and Global Challenges,' was co-hosted with the GCC General Secretariat. UAE Minister of Economy Abdullah bin Touq Al Marri, Bahrain's Minister of Finance Sheikh Salman bin Khalifa Al Khalifa, and other key figures examined economic diversification, sustainable trade policies, and public-private partnerships as drivers of regional stability. On February 12, the MoF, in partnership with the Arab Monetary Fund, will lead a discussion on ' The Role of PPPs in Driving Innovation in Social Infrastructure.' Featuring industry leaders, the session will explore how public-private partnerships can enhance critical sectors like healthcare and education, promoting sustainable development and economic innovation. News Source: Emirates News Agency
Emirates 24/7
11-02-2025
- Business
- Emirates 24/7
MoF organises 3 panel discussions at WGS 2025
The Ministry of Finance (MoF) organised two high-level panel discussions on the opening day of the World Government Summit (WGS) 2025, taking place from 11th to 13th February in Dubai. The sessions brought together global policymakers, financial experts, and senior officials to explore strategies for strengthening multilateral cooperation and enhancing the resilience of Gulf economies. The two sessions discussed ways to promote international financial collaboration, address the evolving economic landscape, and identify innovative solutions to global challenges. Participants talked about strategies to develop sustainable financial policies that enhance stability, growth, and economic resilience in an era of rising global uncertainty. Mohamed Hadi Al Hussaini, Minister of State for Financial Affairs, emphasised that the UAE is committed to strengthening international cooperation and building a more resilient financial system. 'With the growing global economic challenges, there is a need to reshape multilateral cooperation mechanisms and boost coordination between financial institutions and governments,' he said. 'This summit provides a platform to innovate solutions that support economic stability and inclusive growth.' He added that in light of current geopolitical and economic changes, a comprehensive approach is very much needed to enhance economic resilience, combining effective fiscal policies, sustainable investments, and innovative financial technologies. 'With its ambitious economic strategy, the UAE will continue to play a pivotal role in supporting global efforts, while also enhancing financial governance, providing an attractive investment environment, and utilising modern technology to develop more efficient financial systems,' he said. 'Through this summit, we look forward to exchanging experiences and strengthening cooperation with our global partners. This will further solidify the UAE's position as a leading global hub for financial and economic dialogue.' In collaboration with the International Monetary Fund (IMF), the Ministry of Finance hosted a session titled 'Reimagining the Future of Multilateral Cooperation and the Fund for the Future.' The session featured Mohamed bin Hadi Al Hussaini and Kristalina Georgieva, Managing Director of the IMF, alongside finance ministers, international officials, and economic experts. The session explored the challenges facing the multilateral cooperation system, including rising nationalist and geopolitical trends, climate change, and economic inequality. Participants highlighted the need for innovative financing mechanisms and an expanded global financial safety net to address economic crises and support developing countries. Moderated by Dr. Jihad Azour, Director, Middle East and Central Asia Department, IMF, the session explored topics such as the role of technology in strengthening financial systems, aligning global networks to protect against economic crises, and building sustainable frameworks for debt management in countries with vulnerable economies. The session concluded with recommendations to enhance international cooperation, restructure financial systems for inclusivity, and support developing economies in facing global challenges. Additionally, the Ministry of Finance, in partnership with the GCC General Secretariat, hosted another session titled 'Enhancing Resilience: Shaping the Future of the GCC Economy Amid Regional and Global Challenges.' The session brought together key decision-makers and economic experts to discuss the most pressing economic challenges facing the GCC and explore opportunities for economic resilience and long-term sustainable development. Speakers included Abdullah bin Touq Al Marri, UAE Minister of Economy; Sheikh Salman bin Khalifa Al Khalifa, Bahrain's Minister of Finance and National Economy; Jasem Mohamed Al Budaiwi, Secretary-General of the GCC; and Kristalina Georgieva. During the session, Al Marri outlined the evolving global economic landscape, emphasising the need to adapt to a multipolar economic order. He shed light on the future of trade and supply chains, stressing the importance of building resilient and sustainable systems. Al Marri also provided an overview of 'We the UAE Vision 2031,' which aims to drive economic diversification and innovation, reinforcing the country's status as a global hub for trade and investment. He called for deeper cooperation and integration among GCC countries to unlock shared growth opportunities and advance sustainable economic development across the region. Meanwhile, Sheikh Salman bin Khalifa Al Khalifa emphasised the importance of adopting flexible financial policies to address global disruptions. He outlined lessons learned from managing debt and public spending during times of crisis and economic shocks, highlighting the key role of public-private partnerships in accelerating growth and economic diversification. For his part, Jasem Al Budaiwi discussed opportunities for regional integration as a key driver for enhancing the competitiveness of GCC member states. He emphasised the importance of cooperation in trade policies and infrastructure development to strengthen economic ties across the region. Moreover, Kristalina Georgieva provided a comprehensive analysis of global economic transformations. She discussed how macroeconomic trends including inflation, interest rate dynamics, trade disruptions, and geopolitical tensions are impacting the economies of GCC countries. On the second day of the summit, the Ministry of Finance, in partnership with the Arab Monetary Fund, will host a session titled " The Role of PPPs in Driving Innovation in Social Infrastructure." The discussion will feature a distinguished lineup of speakers, including Younis Haji AlKhoori, Undersecretary of the Ministry of Finance; Sharif Salim Al-Olama is the Undersecretary for Energy and Petroleum Affairs in the Ministry of Energy and Infrastructure, Fahad M. Alturki, Director General Chairman of the Board, Arab Monetary Fund, Imad Fakhoury, Global Director for Infrastructure Finance and PPP of World Bank Group and Abdulfattah Sharaf, Chairman of the Board of HSBC Bank Middle East Limited (HBME). The session will explore how public-private partnerships (PPPs) can accelerate the implementation of development strategies in social infrastructure, with a particular focus on key sectors such as healthcare and education. It will highlight how innovation from the private sector can be harnessed to improve the quality of essential services, directly enhancing community well-being. Additionally, the gathering will discuss ways to integrate global best practices, develop successful partnership frameworks, and promote innovation in critical sectors to ensure sustainable development and maximise the impact of collaboration between the public and private sectors. Follow Emirates 24|7 on Google News.
