The new government competition and procurement system has adopted new procurement methods, which entail resolving issues with the current system and ensuring the best value for money, Ahmed Al-Suwaiyan, the finance ministry’s undersecretary for development and technical affairs told CNBC Arabia.
The system enables the ministry to provide better services to the private sector, and to create an integrated e-market through framework agreements, Al-Suwaiyan said.
He also highlighted the ministry’s keenness to fully approve electronic transactions during both the competition and contracting stages, as well as following up on all financial claims.
The Saudi cabinet has recently approved the government competition and procurement system.
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