Ministry of Finance Unveils Enhanced 'Digital Procurement Platform' Catalogue | Kanebridge News
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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.

By Kanebridgenewme.com
Wed, Feb 7, 2024 2:11pmGrey Clock < 1 min

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.



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Preparatory Work for UAE to Oman Hafeet Rail Project Commences at Full Speed

Preparations have begun on the transformative UAE to Oman Hafeet Rail network, revealing significant construction details during a site visit.

Thu, May 16, 2024 3 min

The $3bn Hafeet Rail project between the UAE and Oman will feature 60 bridges and a 2.5km tunnel, making it an “architectural and engineering marvel,” according to CEO Ahmed Al Musawa Al Hashemi.

Hafeet Rail has announced that preparatory work is moving full speed ahead for constructing the transformative railway link between the UAE and Oman. This announcement was made during a site visit attended by key officials, members of the Asyad and Hafeet Rail executive management teams, project contractors, and consultants.

Key Highlights

During the visit, attendees were introduced to the main components of the project, including passenger, repair, and shipping stations, as well as major bridges and tunnel sites.

The Hafeet Rail project is set to play a very important role in enhancing local and regional trade, unlocking new opportunities in the infrastructure, transportation, and logistics sectors, and fostering economic diversification. It will also strengthen bilateral relations between the UAE and Oman.

The project will involve constructing 60 bridges, some reaching heights of up to 34 meters, and tunnels extending 2.5 kilometres. The Hafeet Rail team showcased the latest rail technologies and innovative engineering and architectural solutions designed to navigate the challenging geographical terrain and weather conditions while maintaining high standards of efficiency and safety.

The rail network will boost various industrial sectors and economic activities and significantly impact the tourism industry by facilitating easier and faster travel between the two countries.

Ahmed Al Bulushi, Asyad Group Chief Executive Asset, noted that the project’s rapid progress reflects the commitment of the UAE and Oman to developing and realizing the project’s multifaceted benefits.

Investment and Future Impact

Al Bulushi added that investments in developing local capabilities and expertise in rail-related disciplines over recent years have enabled the project to reach the implementation phase successfully under the leadership of highly efficient and professional national talent.

Hafeet Rail’s CEO Ahmed Al Musawa Al Hashemi emphasized, “The commencement of preparatory works for construction is a testament to the robust synergy between all parties involved in both nations, achieving this milestone in record time. We are confidently laying down the right tracks thanks to the shareholders of Hafeet Rail and the expertise of local companies in Oman and the UAE, alongside international partners.”

During the site visit, the visitors explored some of the key preparatory sites, including Wadi Al Jizi, where a 700-meter-long bridge towering 34 meters will be constructed. This ambitious project is envisioned as an architectural and engineering marvel in a complex geographical landscape.

Future phases will require more collaboration, with a continued focus on quality, safety, and environmental considerations in line with the international industry best practices.

The Hafeet Rail project represents the first-of-its-kind railway network linking two Gulf nations, marking a significant shift in regional goods transportation. This efficient and reliable transportation option will reduce dependence on slower and less sustainable road transport.

Hafeet Rail promises a 40% reduction in shipping costs and a 50% in transit times compared to traditional land transportation methods, as it will be connecting five major ports and several industrial and free zones in both countries.

This shift will reduce reliance on road transport by cars and trucks and promote more sustainable shipping practices. The establishment of the railway network will also create significant opportunities for SMEs in construction, engineering, and logistics support, acting as a catalyst for economic growth and innovation within the domestic economy.

By linking major ports, the Hafeet Rail project will enable local SMEs to import, export, and distribute their products more effectively, enhancing their market reach and global competitiveness.

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