Latest news with #DelegationofAuthorityMatrix
Hi Dubai
01-05-2025
- Business
- Hi Dubai
Ministry of Finance Partners with LuLu Hypermarket to Enhance Digital Procurement Efficiency
The Ministry of Finance has signed a strategic agreement with LuLu Hypermarket to strengthen the UAE's federal digital procurement system, a move aimed at streamlining government purchases and boosting cost-efficiency across federal entities. The agreement, signed today in Dubai, was formalized in the presence of Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs, and Yusuff Ali, Chairman and Managing Director of LuLu Group International. It allows federal entities to access a wide range of products through the digital procurement platform at competitive prices, with the added benefit of exclusive discounts. Designed to enhance transparency, speed, and efficiency, the partnership introduces the 'Punch Out' feature—a digital link between the procurement platform and LuLu's e-commerce site. This feature enables users to navigate directly to LuLu's product catalogue, place orders, and complete transactions within minutes. The collaboration is part of the Ministry's broader efforts to modernize and expand its supplier network under the Federal Law on Procurement. The goal is to reduce procurement time, cut operational costs, and support the government's vision for a smart, integrated, and sustainable financial system. LuLu Hypermarket becomes one of the first suppliers to integrate the new feature, offering federal buyers access to over 120,000 products and services across 35 categories. The platform has already shortened procurement cycles from 60 days to just 6 minutes. The Ministry has also rolled out supporting measures, including a new Procurement Procedures Manual and Delegation of Authority Matrix, to reinforce compliance and procedural efficiency across all federal entities. News Source: Emirates News Agency
Hi Dubai
27-02-2025
- Business
- Hi Dubai
Ministry of Finance Launches Federal Government Procurement Procedures Guide
The Ministry of Finance has unveiled the Federal Government Procurement Procedures Guide, a new framework designed to streamline procurement processes, enhance efficiency, and support the implementation of the Government Procurement Law across federal entities. At a media briefing in Dubai, the ministry also introduced the Delegation of Authority Matrix, which clarifies responsibilities, improves procedural effectiveness, and ensures compliance with regulations. These initiatives are aligned with the UAE's broader goals of fostering innovation, economic sustainability, and environmental responsibility. The Procurement Procedures Guide, developed in line with Federal Law No. 11 of 2023, offers a comprehensive, step-by-step approach to procurement, improving operational efficiency while ensuring transparency and integrity. Key updates include the creation of a Procurement Centre of Excellence, automation of procurement processes, and a clear governance framework for federal entities. Additionally, the guide introduces provisions for managing supplier relationships and mitigating procurement risks, alongside new purchasing methods and updated bid evaluation criteria. The ministry also announced updates to the Delegation of Authority Matrix, enhancing decision-making authority and governance in procurement. This update ensures legal compliance and facilitates rapid responses in emergencies. Aligned with the UAE's 'Year of Community,' the ministry is focused on promoting green procurement, supporting SMEs, and fostering innovation in sectors like artificial intelligence. The Digital Procurement Platform, introduced as part of the new framework, promises a 44% improvement in efficiency and reduced procurement timelines—from 60 days to just 6 minutes—while also contributing to sustainability by saving over 1 million pages of paper annually. These reforms demonstrate the Ministry of Finance's commitment to driving transparency, operational excellence, and a sustainable, innovation-driven economy. News Source: Emirates News Agency
