DUBAI, 24th February, 2022 (WAM) — Mohamed Bin Hadi Al Hussaini, Minister of State for Financial Affairs, has opened an event organized by the Ministry of Finance (MoF) as part of its participation in the UAE Innovation Month 2022, under the slogan ‘MoF Innovates 2022: Journey into the Future of Finance’.
In his opening speech, Younis Haji Al Khoori, Undersecretary of the Ministry of Finance, reaffirmed that innovation is considered a way of life and a national core that forms the basis of the country in its national orientations and strategies. This is in line with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Governor of Dubai, when he said: “Innovation is not an option but a necessity. It’s not a culture but a style of working, and governments and companies that don’t innovate risk losing their competitiveness and being left behind.”
He added: “Our country’s innovation strategy has enhanced its global competitiveness, investing in the development of minds and resources, and embracing creative ideas and innovative practices. The UAE ranked number one in the Arab world in the 2021 Global Innovation Index for the sixth consecutive year, thanks to programs, events, initiatives and joint efforts aimed at instilling innovation to build a diversified, competitive and sustainable knowledge economy .”
In her speech, Fatima Yousif Alnaqbi, Acting Assistant Undersecretary for the Support Services Sector at the Ministry of Finance, reiterated that the UAE is one of the leading countries in supporting and financing the innovation through various initiatives and events, the main one being the ‘UAE Innove’. This event aims to strengthen the role of the community in establishing future initiatives, to mobilize efforts to instill the culture of innovation as a community practice and to encourage talented people to unleash their creative ideas. This is to design innovative solutions and initiatives that help improve the lives of community members and enhance the UAE’s ability to compete globally.
Al Naqbi added, “The country has adopted effective policies and launched sound strategies to inculcate the culture of innovation in the economy and to resolve economic and social difficulties. These strategies include funding innovation programs, building specialized national capacity, empowering private sector enterprises, and increasing investment in the research and innovation sectors. All of this will lead to the creation of innovative solutions that will support the UAE’s journey into the future and achieve the Centenary Goals in 2071.”
The event hosted a group of speakers, experts and intellectuals to share their experiences and knowledge in the financial industry, including Dr. Jerome Glenn, Futurist, Global Scenario Planning Expert, President and CEO the Millennium Project; Dr. Suad Al Shamsi, the first female aeronautical engineer in the UAE; Raya Bidshahri, Founder and CEO, School of Humanity; Joel Van Dusen, Innovation & Fintech Expert, Head of Corporate & Investment Banking at Mashreq Bank; Saqr Ereiqat, Co-Founder and Managing Partner, Crypto Oasis; and Mirna Sleiman, Founder and CEO, Fintech Galaxy.