Centralized procurement unit to raise efficiency, cut spending: Al-Jadaan

The Saudi Ministry of Finance’s planned “centralized” procurement unit will help coordinate purchases of commonly-used goods and services across government bodies, thus ensuring higher efficiency and more competitive prices, said Finance Minister Mohammed Al-Jadaan.

“The planned procurement unit would set rules for government procurements, which will accordingly cut the Kingdom’s expenditure,” Al-Jadaan said at a conference on the preliminary estimates for upcoming year's budget.

The establishment of a centralized procurement unit falls under the ministry’s drive to regulate the governmental procurement procedure, with aim to ensure equal opportunities and transparency, while supporting local content, he added.