The Ministry of Finance unveiled an updated catalogue for its Digital Procurement Platform, now featuring 35 categories with over 120,000 products and services from 230 suppliers.
The launch event highlighted the platform’s benefits, such as a 75% reduction in procurement steps and decreased purchase processing time from 60 days to six minutes. The central procurement unit negotiated with suppliers for optimal prices.
The platform offers a streamlined user interface, automation, electronic catalogues, and transparent transaction tracking. New features include electronic contract drafting, digital identity-based contract signing, a reporting dashboard, and budget verification. Additionally, it expedites communication between federal entities and suppliers, with a section dedicated to SMEs. Categories range from advertising and media to legal services, catering to various government needs.
“The Digital Procurement Platform is part of the strategic directions expressed by the five major transformational projects of the Ministry of Finance, including the first project, the Supply Strategy of the Federal Government, which aims to incorporate new categories of suppliers for the federal government to support national economic growth and enhance government efforts aimed at expanding and diversifying the supplier base in the federal government,” said Mohamed Hadi Al Hussaini, Minister of State for Financial Affairs. “This, in turn, contributes to improving the quality of services and products for federal procurement at competitive prices.”
