UAE Ministry of Finance's Digital Procurement Platform Gains Global Attention for Innovation and Efficiency

UAE, 14 August, 2024 :  The UAE Ministry of Finance’s Digital Procurement Platform has gained significant attention both locally and internationally as an effective digital system. Launched in 2021, the platform connects federal entities with suppliers, enhancing communication and transparency in procurement. It now includes 34 categories with over 120,000 products and services from 234 suppliers.

For 2024, the platform is projected to save AED 31.1 million, with cost savings of 10% from catalog purchases and 44% through improved resource efficiency. HE Mariam Mohammed Al Amiri, Assistant Undersecretary of Government Finance Management, emphasized the platform’s role in supporting national economic growth and advancing the Ministry's strategic objectives.

The platform has expanded federal procurement operations, integrating advanced technology and expanding the supplier base within the federal government. A recent delegation from the Government Expenditure & Projects Efficiency Authority and other UAE entities were briefed on the platform’s features, including AI integration, cost savings, and improved governance.

The platform also includes a Federal Asset Tracking System to manage the lifecycle of assets across federal entities. It features a user-friendly interface with tools like UAE Pass login, smart dashboards, electronic contracts, and e-procurement.

Additionally, the platform supports national initiatives such as Emiratisation and the In-Country Value (ICV) program, prioritizing suppliers who meet specific criteria, including SMEs and those contributing to the national economy.

Source : www.mof.gov.ae