Page 670 - MOE ENGLISH PR REPORT - FEBRUARY 2025 Part 1

2/26/25, 3:33 PM ‘Future of the Economy’ forum discusses transformative trends shaping global economy growth | Emirates News Agency
Abdulla bin Touq Al Marri, Minister of Economy, said that organising the forum at this year's WGS demonstrates the
UAE's commitment to fostering dialogue and knowledge exchange with experts, policymakers, and thought leaders.

The purpose is to explore the latest trends shaping the global economy, making it more adaptable and sustainable.
In his speech at the forum, Al Marri added, "Today, we have gathered here to shape a more robust economic future by

embracing international best practices. In addition to exploring economic events and trends, we aim to foster an
environment conducive to cooperation and collective efforts in order to formulate fresh strategies that bolster the
growth and sustainability of our economies. We are confident that the insights we exchange today will help us

understand the future challenges better, preparing us to effectively navigate them."
He noted that thanks to the wise leadership's guidance, the UAE has successfully developed a unique approach to
adapting to global economic changes and navigating regional and international geopolitical challenges.

The UAE has actively worked on the Emiratisation of technology and innovation in crucial economic sectors, while also
introducing flexible economic policies to diversify its economy. As a result, non-oil sectors now account for more than
75 percent of our national GDP.

He continued, "Additionally, the UAE continues to attract global talent and has forged fruitful economic partnerships
with leading markets regionally and globally, positioning itself as a leading global hub for business and investment.

Today, it has become a home for startups and entrepreneurs."
The Minister of Economy highlighted the key role that sovereign wealth funds, particularly in the Gulf Cooperation
Council (GCC) countries, play in financing regional and global development projects. These funds have significant

potential to shape the investment landscape in emerging markets, especially since they align with sustainable and
long-term goals.
The first session, titled "Rising of Innovative Industrial Policies", focused on the mechanisms for transitioning towards

innovation-based policies, economic flexibility, and the balance between open markets and national priorities. The
session also highlighted the role of industrial policies in accelerating the transition towards achieving net-zero carbon
emissions, driving innovation and local production, and enhancing the efficiency and flexibility of vital supply chains.

Subsequently, the second panel discussion, titled "The Presence of Regional and Global Multiple Economic Blocs,"
explored the significance of major economic blocs in enhancing global trade growth and achieving shared economic

benefits for countries. It shed light on enhancing economic integration, particularly in light of the shifts witnessed
globally in recent years.
During the third session, titled "Growth Prospects for the Regional Economy in 2025," participants shared their insights

on how governments are addressing inflation, energy transitions, climate change, and investment opportunities. They
also discussed the governments' ability to adapt to the new global reality.
Besides, the participants reviewed the latest global trends in future technology and innovation, digital boundaries in

finance and financial services, and the key role played by international financial institutions in bridging investment gaps
and ensuring capital flows across different markets.

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