UAE Ministry of Finance unveils four-year roadmap

The UAE's Ministry of Finance has unveiled its 2023-2026 strategic plan, which prioritises financial empowerment, innovation, future foresight and sustainable development.

The four-year roadmap for the ministry was launched by His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance.

The strategy is in line with the directives of President His Highness Sheikh Mohamed bin Zayed Al Nahyan and His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, and the objectives of the UAE Centennial Plan 2071.

“We will develop and implement sustainable financial policies to promote economic growth, create a competitive business environment, strengthen international economic relations and build trust and transparency,” said Sheikh Maktoum.

He also emphasised the ministry's focus on attracting and empowering talent, providing efficient institutional services and AI-enabled digital infrastructure, and applying best practices in human resources and performance measurement.

We launched The Ministry of Finance strategy 2023 - 2026 in line with the UAE’s vision and with its leadership’s aspirations. In accordance with this national strategy, the Ministry will adopt international best practices and solidify its pioneership and excellence. It will work… pic.twitter.com/tqvX5skFrI

— Maktoum Bin Mohammed (@MaktoumMohammed) August 6, 2023

The Ministry’s strategic plan include six values – building team spirit, achieving leadership and excellence, ensuring integrity and transparency, enhancing agility in financial work management, and achieving high level of wellbeing, and equality in work environment.

There are also six other guidelines, including the factors impacting the ministry’s performance, the results of customer satisfaction surveys, the basic qualifications of the ministry, the available strategic resources and capabilities, internal strengths and weaknesses as well as opportunities and external risks, in addition to international best practices in financial resources management.

Meanwhile, the Ministry's three strategic goals include:

Financial performance excellence within the federal government through two initiatives – designing a public finance roadmap and strengthening analytical capabilities, and ensuring sound financial management.

Ensure fiscal sustainability for an inclusive future. This will be driven by two initiatives – managing public debt, and designing balanced tax policies that are aligned with local and international developments.

Strengthen national financial resilience. Two initiatives will enable this goal – designing a framework for emergency response and recovery in finance, and developing a programme for cooperation with international ministries of finance in the field of public finance.

.@MaktoumMohammed, Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, announces the launch of @MOFUAE’s Strategic Plan 2023-2026. https://t.co/ynHVZBquI5 pic.twitter.com/MmgckHj66D

— Dubai Media Office (@DXBMediaOffice) August 6, 2023