UAE And Saudi Arabia Discuss Enhancing Cooperation In Government Expenditure

The UAE Ministry of Finance (MoF) recently hosted a significant meeting with an official delegation from the Government Expenditure and Projects Efficiency Authority of the Kingdom of Saudi Arabia (EXPRO) at its headquarters in Abu Dhabi. This gathering underscored the collaborative spirit between the two nations, focusing on the exchange of insights and experiences related to digital procurement and the enhancement of government expenditure efficiency.

Younis Haji Al Khoori, the Under-Secretary of the MoF, alongside key department directors, welcomed the Saudi delegation. The team from Saudi Arabia included Khalid Almalki, Executive Director for Enablement of Infrastructure Sectors; Saqer Al Sulaim, Executive Director of Strategic Procurement; Ahmed bin Mahmoud, Executive Director of Operations and Control; and Shaden Al Mesned, Acting Director of International Cooperation.

Al Khoori expressed the UAE's eagerness to share its pioneering digital procurement platform experience with Saudi Arabia. He highlighted the mutual benefits such cooperation brings, emphasizing the deep-rooted historical ties and shared aspirations that unite both countries. The meeting also touched upon the strategic Saudi-Emirati Coordination Council, co-led by President His Highness Sheikh Mohamed bin Zayed Al Nahyan and His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, which aims to bolster economic and financial collaboration between the two nations.

The discussions delved into the specifics of the UAE's Digital Procurement Platform, showcasing its efficiency in reducing procurement time from 60 days to a mere six minutes for listed products and services. This system not only accelerates procurement processes but also ensures competitive pricing and quality through framework agreements with suppliers. The platform's design to support entrepreneurs and small to medium-sized enterprises (SMEs) by offering exclusive benefits was also a key topic of interest.

This meeting between MoF and EXPRO representatives is a testament to the ongoing commitment of both nations to share knowledge and best practices. Such exchanges are pivotal in fostering innovation in government procurement processes, ultimately contributing to the economic prosperity and welfare of both countries.

The collaboration between the UAE and Saudi Arabia through initiatives like the Digital Procurement Platform exemplifies a forward-thinking approach to government spending. By leveraging technology and strategic partnerships, both nations are setting a new standard for efficiency and effectiveness in public procurement, paving the way for enhanced economic development in the region.

With inputs from WAM