Consulting Agency

The Ministry of Finance of the United Arab Emirates Announces the Implementation of Five Major Projects to Enhance Government Operations

The first project involves developing a regional goods supply strategy to ensure supply chain resilience. The second project aims to enhance transparency in climate change information. The third initiative involves introducing a corporate tax to stimulate business development. The fourth project is based on a government-business partnership to collaborate on essential tasks. And finally, the fifth project focuses on creating an electronic invoicing system.

According to the statement released by the Ministry on Tuesday, July 11, 2023, these projects are part of the country's development strategy for the next decade, known as "We, UAE 2031." They are also aligned with the initiatives to create a digital government.

The Minister of State for Financial Affairs, Mohammed Al-Husseini, emphasized the need to prioritize, carry out quality transformations, manage resources and finances effectively, and implement projects aimed at achieving national objectives.

The Minister highlighted that in a rapidly changing world, it is essential to utilize more flexible and efficient tools to meet modern demands across various aspects of public life.

The Ministry aims to establish effective partnerships with the private sector to improve the quality of provided government services and fund various projects.

Mr. Al-Husseini noted that these measures are taken in addition to reinforcing funding in climate control and environmental conservation to ensure sustainable development for future generations. Additionally, the Ministry is working on projects related to tax policy development and simplifying tax declaration procedures to comply with tax legislation, strengthen its structure, and maintain the competitiveness of the economic environment to attract foreign investments.