Page 685 - MOE ENGLISH PR REPORT - FEBRUARY 2025 Part 1

2/26/25, 3:40 PM ‘Future of the Economy’ forum discusses transformative trends shaping global economy growth - Emirates24|7
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

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