Headed by Mansour bin Zayed

The Ministry of Development discusses initiatives to develop government work and its legislation

Mansour bin Zayed presiding over the meeting of the Ministerial Council for Development.

WAM

His Highness Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs, chaired yesterday, the meeting of the Ministerial Council for Development, which was held in the Qasr Al Watan complex in the capital Abu Dhabi, where a number of initiatives and topics were discussed within the framework of the development of the work system. Government.

Within the agenda of its meeting, the Council reviewed a number of projects to develop government laws and legislations, which included discussion of preparing a federal law to amend the financial leasing law, within the framework of developing leasing activities that end with ownership in the state and its mechanisms, and enhancing economic development and creating job opportunities, by providing access to Financing micro, small, and medium businesses, and providing a competitive environment, in order to ensure lasting financial prosperity for the country and raise its competitiveness.

Financial leasing is considered one of the primary means of providing financing in a way that is characterized by its simplicity and its direction to support all economic levels, from individuals, small and medium companies, to basic projects, as it contributes to facilitating and providing the opportunity for industrial and commercial projects to obtain equipment and production tools that enable them to undertake and develop their activities.

In the same context, the Council discussed the executive regulations of the Federal Decree-Law on Public Finance, which aims to complete the provisions and controls of public finances in a way that enhances financial stability in the federal government, strengthens and establishes principles of transparency, disclosure and participation in managing the general budget and keeps abreast of international best practices in public financial management.

Within its agenda, the Council discussed the executive regulations of the Federal Law on Product Safety, which aim to ensure safe products circulation in the state's markets and are consistent with legislation and the requirements of global trade.

In government regulatory affairs, the council reviewed the proposal to form a committee on sustainable fuels and low-carbon fuels for the aviation sector, with the aim of promoting future investment opportunities and entering the market for sustainable fuels and low-carbon fuels. Private, engaging investors to invest in sustainable energy for the aviation sector.

On the other hand, the Council discussed setting the year 2021 to start applying accrual accounting in the federal government, and adopting a guide to accounting standards to be applied in federal agencies for the year 2021, within the framework of raising the effectiveness of financial planning at the federal government level, and improving public financial management in accordance with international best practices. And resource sustainability.

The Council also reviewed the outputs and recommendations of the modern agricultural sector development working group, and the most important achievements of the government knowledge exchange program, in addition to studying the impact of the "Covid-19" pandemic on the global and Emirati economy.

In government reports, the Council reviewed government reports within the framework of developing government work, which included reviewing the report of the work of the National Committee for Biosecurity for the period “2017-2020”, the results of the annual statistical report on joint Gulf economic work, and a report on the Fifth Forum for Public Finance to Enhance Social Protection For Arab countries in the current and post-pandemic phase, "Covid-19", and the annual report of the achievements of the Government Financial Policy Coordination Council for the year 2020.

The agenda also included a review of a report on the measures taken on the SAI's observations regarding the final accounts of the Emirates Investment Authority, the Emirates Integrated Telecommunications Company (du), the Emirates General Transport and Services Corporation, and Emirates Post Group and its subsidiaries for the fiscal year 2018.

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