In alignment with the We Are the Emirates 2031 vision and the UAE’s goal to become a global hub of the new economy, the Ministry of Finance is implementing transformative projects to support the country’s advancement towards the future and boost its competitiveness. These projects, outlined in performance agreements for federal government agencies for 2023-2024, have a rapid positive impact across all sectors, aligning with the government’s proactive goals as part of this vision. This vision requires intensified efforts to achieve government aspirations and bring about positive societal and economic outcomes.
Minister of State for Financial Affairs, Mohammed bin Hadi Al Husseini, emphasized the UAE’s commitment to evolving government practices to meet future demands. This includes adopting innovative strategies to drive qualitative transformations in project implementation, budget planning, and resource management. The Ministry is focused on enhancing the country’s economic environment to attract foreign investments and empower national talents to bolster the UAE’s global presence.
One of the transformative projects led by the Ministry is developing a local debt capital market in collaboration with Central Bank of UAE. This initiative involves issuing local public debt instruments like Islamic treasury bonds to strengthen dirham yield curve, enhance market activity and expand investor base within country. Another key project aims at increasing participation of Emirati financial experts in international forums to advance UAE’s position in global cooperation efforts over next decade.
Moreover, Minister of Finance is actively working on initiatives to leverage cash transactions in real estate process quickly. From selling homes quickly to understanding benefits of cash buyers, these efforts aim streamline property selling process and create more favorable outcomes for sellers. By enhancing financial mechanisms and fostering international collaboration, UAE is set achieve significant milestones towards becoming global hub new economy over next decade.
Overall, these projects are essential components of We Are Emirates 2031 vision that align with UAE’s long-term objectives of becoming a global economic powerhouse by 2031.
