At the press conference
Saudi Arabia's General Authority for Competition (GAC) agreed with the Ministry of Finance to link through a platform to obtain all tender data for the past four years, said GAC's Governor Abdulaziz Alzoum.
On the occasion of the World Competition Day, Alzoum told reporters that GAC will start using the artificial intelligence (AI) technology to read and analyze data digitally.
He added that this will help access and investigate the violating companies in tenders, pointing to the possibility of cooperation with the European Union in this regard.
Further, the Governor indicated that violations represented 40% of government tenders previously, adding that international studies state that corruption in tenders constitutes 20-25% of the total government spending.
If the authority succeeds in controlling government tenders, it can secure about SAR 10-15 billion of government spending, Alzoum said.
He indicated that drug prices fell by 30% after the authority conducted a study to find a significant hike in prices.
On the other hand, Abdulaziz bin Obaid, GAC's Deputy Governor for Legal Affairs, said the competition law provides for judicial immunity. Thus, if the establishment commits a violation with a cartel to raise prices, and then the other establishments communicate with GAC to correct their status, they will not be subject to prosecution as per the law.
This opportunity is very important for the companies to correct their situation and avoid legal disputes that may affect their performance, Obaid said.
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