العربية The MOF Welcomes Delegation from Uzbekistan as Part of the "Financial Leadership Programme" 06 November 2024 The UAE Ministry of Finance recently welcomed a delegation from the Government of the Republic of Uzbekistan as part of the "Financial Leadership Programme," a collaborative effort to exchange expertise and knowledge in finance, banking, and investment sectors. The visit aims to offer the Uzbek delegation an in-depth look into the UAE’s best practices and strengthen bilateral ties to advance financial excellence and economic growth. Experience Exchange His Excellency Younis Haji Al Khoori, Undersecretary of the Ministry of Finance, warmly welcomed the Uzbek delegation, highlighting the close and friendly relations between the two nations. He emphasised the significance of this visit as an invaluable opportunity to enhance cooperation and share experiences in the financial sector. His Excellency remarked, "The Ministry of Finance places great importance on developing an integrated and innovative financial system that aligns with sustainable development goals and achieves excellence in all financial and economic fields. In pursuit of this, we have adopted several global best practices covering all aspects of financial operations, from financial sustainability to transparent governance and advanced systems that facilitate efficient financial services." H.E. Al Khoori further underlined the Ministry’s commitment to fostering knowledge exchange, noting that genuine partnerships are built through direct engagement and constructive dialogue. He added, “We look forward to this programme serving as a bridge for enhanced mutual cooperation that benefits both the UAE and Uzbekistan.” Sustainable Financial Policies During the visit, the Uzbek delegation was briefed on the Ministry of Finance's forward-looking strategies for managing and growing the UAE federal government’s financial resources through sustainable financial policies. This included insights into budgeting processes, government revenue governance, and the development of digital financial systems that bolster operational efficiency and fiscal sustainability. The Ministry also showcased its advanced forecasting and revenue collection systems, alongside digital initiatives that support governmental financial procedures and align with the latest advancements in data technology, providing precise and comprehensive statistics. The visit programme further highlighted the Ministry’s experience in managing and developing government assets, expanding public-private partnerships, and introducing the Federal Digital Procurement Platform, which accelerates government procurement processes and enhances expenditure efficiency. Additionally, the discussion covered the foundations of implementing Value Added Tax (VAT) and Corporate and Business Tax, along with a review of the Financial Management Information System. Appreciation The Uzbek delegation, which included 21 financial specialists from the Government of Uzbekistan, expressed appreciation for the Ministry’s efforts in organising this knowledge-rich meeting and conveyed eagerness to adopt UAE best practices in alignment with their nation’s aspirations for financial and economic advancement. This visit is part of the "Financial Leadership Programme for the Government of the Republic of Uzbekistan," organised by the Government Knowledge Exchange Office, under the UAE Ministry of Cabinet Affairs, in line with the UAE’s vision to strengthen its role as a global hub for governmental expertise exchange and to support the path of sustainable development.
