UAE’s pioneering experiences in advanced technology highlighted

The UAE participated in the G20 Labour and Employment Ministers’ Meeting, which concluded in Fortaleza, Brazil, on 26 July, with the aim of addressing the latest international labour market trends.

Speaking at the Forum, Shayma Al Awadhi, Assistant Undersecretary for Communication and International Relations at the Ministry of

Human Resources and Emiratisation (MoHRE), emphasised the critical role of G20 meetings as a platform bringing together influential leaders and decision-makers from around the world to discuss pressing issues amidst rapid global developments, particularly in the world of work, and explore effective strategies to achieve both short and long-term goals, all within effective and innovative regulatory systems, frameworks, and policies. Her Excellency stressed the importance of cooperation among nations to accelerate technological advancement and ensure efficiency and governance.

Al Awadhi went on to note that the UAE “has made significant strides in investing in advanced technologies, guided by the forward-looking vision of its wise leadership that focuses on embracing cutting-edge technologies, and taking the lead in channelling them towards improving people’s lives and offering more streamlined and effective services, as well as utilising technology across all sectors, particularly in human resources and employment, where it can serve to establish more integrated systems.”

She showcased the UAE’s unique approach and experiences as an exemplary pioneer in developing and adopting advanced technology and artificial intelligence to enhance productivity and efficiency, promote innovation and encourage the use of advanced technologies in industrial systems and solutions, thereby reinforcing the UAE’s leadership in driving sustainable industrial development.

She emphasised that the UAE had ranked 12th globally on the IMD World Digital Competitiveness ranking in 2023.The UAE is striving to double the digital economy’s contributions to GDP from 9.7% to 19.4% over the next 10 years, she revealed, noting that “the UAE is expected to spend $20 billion on digital technologies over the next three years, including IT and telecoms, AI, IoT, blockchain, and robotics.”

“Investments in the UAE financial technology sector amounted to $1.3 billion, marking an increase of 92%, facilitated by the country’s advanced digital infrastructure, as well as its policies and systems that incentivise investment in this vital sector,” Al Awadhi continued, highlighting the UAE labour market programmes and initiatives designed to ensure optimal investment in technology, and enhance the wellbeing and quality of life of employers and workers alike.

She highlighted the range of digital services that the Ministry of Human Resources and Emiratisation offers to its clients, including the Wage Protection System (WPS) implemented in collaboration with the UAE Central Bank, which benefits 99% of the country’s private-sector workers, in addition to the Smart Inspection System and other technology-based programmes and initiatives.

The UAE also joined the Just Transition Leadership Forum, held as part of the G20 Labour and Employment Ministers’ Meeting. The Forum discussed measures to create job opportunities and enhance work conditions to ensure social inclusion and alleviate poverty by ensuring decent work conditions and equal pay for everyone. Additionally, the event included a cultural programme and discussions that explored ways to reduce the gender pay gap, promote diversity in the workplace, and use technology as an optimal tool to improve everyone’s lives.

Separately, The UAE, represented by the Ministry of Finance (MoF) and the Central Bank of the UAE (CBUAE), participated in the third meeting of Finance Ministers and Central Bank Governors of the G20 (G20 FMCBG), which took place on 25-26 July under Brazil’s presidency for the year 2024.

The event was held in Rio de Janeiro with the presence of representatives from member countries, invited nations, and international financial organisations and institutions.

The UAE’s delegation to the meeting was led by Mohamed Hadi Al Hussaini, Minister of State for Financial Affairs, and included Ibrahim Obaid Al Zaabi, CBUAE’s Assistant Governor of the Monetary Policy and Stability Department; Ambassador Majid Al Suwaidi, COP28 Director-General; Ali Abdullah Sharafi, Assistant Under-Secretary of the International Financial Relationship Sector at the MoF; and Thuraiya Hamed Alhashmi, Director of International Financial Relations and Organisations Department at the MoF.

On the sidelines of the meeting, Brazilian President Luiz Inácio Lula da Silva met with Mohamed Hadi Al Hussaini to discuss common issues, including enhancing bilateral cooperation in sustainable finance.

The meeting was attended by Saleh Al Suwaidi, UAE Ambassador to Brazil.

WAM