The Ministry of Finance (MoF) participated in the first Infrastructure Working Group (IWG) meeting for the year 2023, which was held for the first time under India’s presidency of the G20 on 16th and 17th January 2023 in Pune, in the state of Maharashtra, India.
The meeting was held to discuss the IWG work plan for 2023 in line with the priorities of the Indian presidency for the G20.
MoF’s delegation to the meeting included Amna Alshamsi, Head of Policies, Regulations and Procedures Department at MoF; and Asma Al Zarooni, Head of Exchange of Tax Information Section at MoF. The G20 members, invited countries, and international organisations such as the International Finance Corporation (IFC) also attended the meeting.
The members discussed the way forward for the working group for 2023 and shared their views on the IWG’s plan to build on the work initiated from the previous presidencies.
They also discussed the importance of building future-ready urban infrastructure, leveraging synergies between digital and physical infrastructure, and leveraging private investment to build energy-efficient and environmentally sustainable infrastructure. This is in addition to means of ensuring inclusivity and resilience, which remain key considerations to building future cities.
During the meeting, MoF’s delegation supported IWG’s approach towards assessing the requirements of urban infrastructure and reviewing the prerequisites of future cities. The delegation also stressed on the need to consider the enabling role of inclusive infrastructure in promoting economic growth, especially at a time when economic challenges are escalating at a global scale.
Additionally, the delegation emphasised the need to explore how can legislative reform improve investment attraction for smart and sustainable cities, while showcasing the UAE’s achievements in this field.
IWG members will review and discuss the progress on the 2023 deliverables at the working group’s next meeting, the date of which will be confirmed later by India’s presidency of the G20.
Muhammad Aamir / Esraa Esmail/ Khoder Nashar