The UAE Ministry of Finance (MOF) has unveiled five strategic transformational projects aimed at advancing the national economy and government readiness.
The MOF projects encompass corporate tax, supply chain strategies, climate data transparency, and partnerships between the public and private sectors. They are designed to effectively manage government resources, contribute to the future needs of the country, and align with the “We the UAE 2031” vision for sustainable development.
Mohamed Bin Hadi Al Hussaini, Minister of State for Financial Affairs, highlights the necessity of flexible and efficient work tools to keep pace with global developments. He emphasizes the ministry’s goal of achieving comprehensive strategic objectives, establishing effective partnerships with the private sector, and promoting a sustainable future through expenditure on climate and the environment.
UAE Ministry of Finance’s Five Major Projects
- Promising Future in the Supply Strategy of the Federal Government: This project aims to expand and diversify the supplier base in the federal government, contributing to economic growth and improving the quality of services and products.
- Enhancing Competitiveness and Transparency in Data Related to Climate and Environment Spending Data: This project focuses on providing data related to climate and environment spending to enhance competitiveness and transparency.
- The Future Phase of Regulating Public-Private Partnerships: This transformational project aims to establish partnerships between the public and private sectors for sustainable economic development.
- Imposing a Federal Tax on Corporations and Businesses: The project focuses on developing corporate tax policies and regulations.
- E-Billing System: This project aims to develop an advanced electronic billing system to streamline tax filing procedures and improve compliance.
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