MoF hosts virtual 'Innovation and Public Wealth' programme

As part of the UAE Innovation Month 2021

  
MoF hosts virtual 'Innovation and Public Wealth' programme

As part of its participation in the UAE Innovation Month 2021, and reiterating its excellence in supporting innovation and innovators, the Ministry of Finance (MoF) organised and hosted today a virtual programme under the slogan ’Innovation and Public Wealth.’ The UAE innovation month is a national annual event that aims to instil and spread the culture of innovation, build and elevate national talent and capabilities, and motivate government entities, the private sector and individuals to adopt innovation.  

In the programme’s opening speech, His Excellency Younis Haji Al Khoori, Undersecretary of MoF, welcomed the participants and noted that the event this year is of special importance as it coincides with the Golden Jubilee of the Union. His Excellency Al Khoori noted that the best way to prepare for the future is by rediscovering available resources and adopting new innovative strategies to achieve best results.

His Excellency Al Khoori said: “The UAE is one of the first countries in the region and the world to be up to date with technological developments, and lead in innovation. Recently, the Hope Probe arrived to Mars – a new historic and global achievement attained by the UAE, one that showcases the country’s pursuit to devise the tools of the future and innovate its technologies. The space sector is one of the UAE’s future pillars to spur growth and support economic diversification strategies. The country has reattained the impossible, thanks to the wise leadership’s efforts, work and vision to devise ambitious and long-term strategic plans to build a sustainable knowledge-based economy and a society based on science, knowledge, and innovation.”

His Excellency Al Khoori added: “At the Ministry of Finance, we operate within an integrated system that adopts innovation as an integral part of any practice, process or service we offer. We reiterate our commitment to providing a stimulating environment that adopts innovation and launches innovative initiatives and programmes that serve as the basis of our future plans and government work. This is in line with the UAE's vision to become among the most innovative governments in the world, and with the objectives of the UAE Centennial 2071 to mark the UAE as a regional and global innovation hub.”

His Excellency Al Khoori stated that MoF has attained several achievements in terms of innovation and has kept pace with the rapid technological development. The ministry has applied artificial intelligence in the digitisation and development of government financial work, and provided innovative digital services and solutions according to the best international practices - which elevates the efficiency and effectiveness of services and achieves the customers’ highest levels of satisfaction. The ministry is also working to achieve its goals in innovation through one of its most important strategic projects in this field, namely the Mohammed bin Rashid Innovation Fund (MBRIF), which supports innovators and spurs the country’s innovation sphere.

His Excellency Al Khoori said: “In line with our wise leadership’s vision to rank first in various fields, the Ministry of Finance will continue to adopt innovation and devise strategic plans to support sustainable growth. It will do so by launching initiatives and programmes aimed at advancing innovation and creativity in all fields.”

Three virtual sessions were organised as part of the programme’s activities. The first session deliberated ‘Innovating Public Wealth,’ and introduced innovative techniques governments can adopt to manage public wealth that would enable growth and prosperity for all. During the session, Dag Detter, Former President of Stattum, the Swedish government holding company, and Director at the Ministry of Industry of Sweden delivered a keynote speech. Also, Roy Sheppard, Former BBC news anchor, interviewer & author moderated a panel discussion titled “Innovating Public Wealth Management for Future Generations”. At the end of the session, the government efforts and contribution to instilling innovation in the country were deliberated, and a video presentation about the MBRIF was also played.The second session deliberated Leading Beyond Disruption‘, and saw a  keynote speech by Terence Mauri, Founder of  Hack Future Lab, #1 Best-selling author (FT Publishing/Bloomsbury), Entrepreneur Mentor in Residence roles at the Massachusetts Institute of Technology (MIT) and London Business School. That, in addition to a panel discussion moderated by Roy Sheppard that saw the participation of the MBRIF members; Dr Ali Al Hammadi, Founder and CEO of Farmin; and Shehzad Najib, Co-Founder & CEO of Kinteract.The third and last session tackled ’Youth and Principles of Saving‘. The session was moderated by Zahraa Aljawi, Head of Building Financial Accounting Capabilities at MoF, where His Excellency Younis Haji Al Khoori, Undersecretary of MoF; Dr. Heba Abdel Monem, Chief, Studies and Statistics Division at the Economic Department at the Arab Monetary Fund; and Dr. Sahel Al Rousan, Senior Economic Advisor at MoF, participated.

The Ministry of Finance celebrates UAE Innovation Month every year by organising events that encourage innovation and creative thinking among various society groups, and reiterates the UAE’s standing as a global innovation hub.

-Ends-

For more information, please contact:
Mary Khamasmieh
Weber Shandwick
E: mkhamasmieh@webershandwick.com 

Rawad Khattar
Weber Shandwick
E: RKhattar@webershandwick.com 

Sara Abuhassira
Weber Shandwick
E: SAbuhassira@webershandwick.com 

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