Ministry of Finance Unveils Enhanced ‘Digital Procurement Platform’ Catalogue
The Ministry of Finance introduced the updated and expanded version of the Digital Procurement Platform’s catalogue.
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The announcement was made during a forum that the ministry organized in Dubai in the presence of representatives from the government entities and in tandem with the UAE Innovation Month. The DPP digitalises the procurement process across the UAE federal entities. It brings together the federal entities and registered suppliers on a single platform, where all the stages of the procurement process including announcement, bidding and following up on tenders, placing purchase orders, and generating invoices, can be completed online.
The enhanced platform features 35 categories with over 120,000 products and services from 230 suppliers. The unveiling was attended by representatives from over 30 federal agencies.
During the event the speakers highlighted the catalogue’s benefits over traditional buying methods, notably reducing procurement steps by 75% and cutting down the purchasing time from 60 days to just six minutes. The Ministry’s central procurement unit has been working to secure the best prices by negotiating with suppliers.
The Digital Procurement Platform plays an important role in the digital transformation at the federal purchasing level, enhancing efficiency, transparency, and financial management. It simplifies and accelerates procurement processes, offering a user-friendly interface that boosts productivity and automation.
The platform provides a comprehensive system for viewing transactions and analyzing expenditures, supporting sustainable digital transformation and innovation in government spending efficiency.
The platform also facilitates communication between the entities and suppliers, ensuring transparency in all procedures. New features include a streamlined procurement process, electronic contract drafting, digital contract signing, a reporting dashboard, budget verification, a reverse auction for digital tenders, and tracking for purchase requests and orders. It also highlights SMEs, making their products and services more accessible.
The event also included a discussion on the impact of emerging technologies like artificial intelligence on government procurement, focusing on enhancing efficiency, transparency, and accountability.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
Employment grew for the 16th consecutive month as companies expanded.
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According to a recent PMI report, Qatar experienced its fastest non-energy sector growth in almost two years in June, driven by surges in both existing and new business activities.
The Purchasing Managers’ Index (PMI) headline figure for Qatar reached 55.9 in June, up from 53.6 in May, with anything above 50.0 indicating growth in business activity. Employment also grew for the 16th month in a row, and the country’s 12-month outlook remained robust.
The inflationary pressures were muted, with input prices rising only slightly since May, while prices charged for goods and services fell, according to the Qatar Financial Centre (QFC) report.
This headline figure marked the strongest improvement in business conditions in the non-energy private sector since July 2022 and was above the long-term trend.
The report noted that new incoming work expanded at the fastest rate in 13 months, with significant growth in manufacturing and construction and sharp growth in other sectors. Despite the rising demand for goods and services, companies managed to further reduce the volume of outstanding work in June.
Companies attributed positive forecasts to new branch openings, acquiring new customers, and marketing campaigns. Prices for goods and services fell for the sixth time in the past eight months as firms offered discounts to boost competitiveness and attract new customers.
Qatari financial services companies also recorded further strengthening in growth, with the Financial Services Business Activity and New Business Indexes reaching 13- and nine-month highs of 61.1 and 59.2, respectively. These levels were above the long-term trend since 2017.
Yousuf Mohamed Al-Jaida, QFC CEO, said the June PMI index was higher than in all pre-pandemic months except for October 2017, which was 56.3. “Growth has now accelerated five times in the first half of 2024 as the non-energy economy has rebounded from a moderation in the second half of 2023,” he said.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
