Dubai summit: PM calls for financial approaches to advance sustainable growth, innovation, social equity

Prime Minister Sonexay Siphandone, in his address at the 2025 World Governments Summit in Dubai, the United Arab Emirates (UAE), called for financial approaches that advance sustainability, innovation, economic development, and social equity.

Prime Minister Sonexay Siphandone.

The Lao PM attended the summit under the theme ‘Shaping Future Governments’ at the invitation of the Vice President and Prime Minister of the UAE, His Highness Sheikh Mohammed bin Rashid Al Maktoum. The summit convened from February 11-13.
Delivering a keynote speech at the meeting under the sub-theme ‘Financing the Future’, PM Sonexay emphasised that green finance and green bonds have become essential financial instruments globally.
“These include prioritising investments in green sectors and promoting the use of renewable energy such as hydropower, wind, and solar energy,” the Lao leader told the audience.
He also underscored the need to dedicate funds targeting start-ups and innovative ventures in order to addresses societal needs in sectors such as healthcare, agriculture, technology, finance, and banking.
“Finance and banking will serve as key drivers of future economic growth. In particular, innovative financial solutions—such as FinTech—will enhance efficiency, reduce costs, and increase accessibility,” he said.
The premier highlighted the need to ensure social equity and accessible services when it comes to financing.
“Financial services must be accessible to people from all walks of life to ensure inclusive and sustainable development,” he said.
The PM stressed the importance of strengthening community-based financing and infrastructure development in building resilience to climate change and natural disasters, especially in the face of an evolving environment.
In the policy frameworks, PM Sonexay suggested developing policies that promote sustainable investments and encourage innovative solutions to social challenges.
“This includes leveraging Public-Private Partnership (PPP) schemes to foster collaboration and innovation, which are essential for realising transformative government reforms by utilising appropriate financial resources from the private sector,” he said.
The PM underscored that enhancing regional and international cooperation to establish new financial resources and provide capacity-building for emerging economies is increasingly important for sustainable and green development.
Financing the future requires a multifaceted approach that harnesses diverse financial resources to promote sustainable development and encourages inclusive participation across all sectors of society, he added.
The World Governments Summit was established by the UAE in 2013 to serve as a platform for state leaders, heads of governments, international organisations, and business executives globally.
It facilitates discussions on cooperation across various sectors including technological innovation, socio-economic development, public administration, finance strategies, climate change, health, human resource development, and other pressing issues.

By Times Reporters
 (Latest Update February 13, 2025)