Latest news with #YusuffAli
Arabian Business
01-05-2025
- Business
- Arabian Business
UAE finance ministry, LuLu Hypermarket sign deal to boost digital procurement efficiency
The UAE Ministry of Finance signed an agreement with Lulu Hypermarket aimed at improving the efficiency of the government's digital procurement system. The partnership will enable federal entities to access a wide range of catalogue products at competitive prices through the digital procurement platform. Federal entities using the digital procurement platform will also benefit from exclusive discounts, contributing to enhanced public spending efficiency and achieving better value for money. Additionally, the agreement will support the Ministry of Finance's efforts to expand the network of approved suppliers within the digital procurement system, making it easier to access a diverse range of goods at competitive prices and under flexible supply terms. The signing ceremony was attended by Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs, and Mr. Yusuff Ali, Chairman and Managing Director of LuLu Group International. Al Hussaini said the agreement is in line with the federal government's vision for more flexible and sustainable business models. 'The collaboration with LuLu Group represents an important step in the Ministry's efforts to expand its network of partnerships with the private sector and to strengthen its role as a key partner in the UAE's economic development. 'It also reflects our commitment to adopting advanced digital solutions that enhance spending efficiency, ensure continuity of supply, and support the government's vision for a smart, integrated, and sustainable financial system,' the minister said. Yusuff Ali said by providing high-quality products through the federal catalogue at competitive prices, the company reaffirm its commitment to supporting the government's vision of achieving efficiency and sustainability in resource management. 'The launch of the 'Punch Out' feature between the digital procurement platform and LuLu Group's website marks a qualitative leap in the integration of e-procurement processes,' he said. The 'Punch Out' feature enables users from federal entities to directly navigate to the supplier's e-commerce platform via the digital procurement system, select products, submit orders, and complete the procurement process smoothly and efficiently. LuLu Hypermarket is among the first suppliers to activate the 'Punch Out' feature, demonstrating the ongoing expansion of the digital platform's integration with top local suppliers. The agreement with LuLu follows the ministry launching the Federal Government Procurement Procedures Manual in February to streamline procurement operations and facilitate implementation of the law across all federal entities.
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
Times of Oman
27-04-2025
- Business
- Times of Oman
Yusuff Ali praises Omani workforce, focuses on Oman's growing investment potential
MUSCAT: Yusuff Ali M. A., the founder of Lulu Group International, has long recognised the immense potential of Oman's workforce, with the company's commitment to hiring more Omanis as a cornerstone of its local operations. Praising the hard work, dedication, and professionalism of Omani employees, Yusuff Ali shared his insights on the country's growing investment opportunities and Lulu's expanding role in driving the nation's economic progress. "Oman's workforce is one of its greatest assets. They are punctual and very hard working," founder and chairman of Lulu Group International said on Sunday. He was speaking on the sidelines of the Advantage Oman Forum 2025, which began at St. Regis, following his participation as a speaker in one of the sessions at the forum He said: "We currently employ over 3,500 Omani nationals over 36 outlets across the Sultanate, and we are committed to increasing that number. Our employees are hardworking, honest and dedicated, and we believe in investing in their development through specialised training programmes." Yusuff Ali emphasised Lulu's ongoing efforts to provide Omani talent with the necessary skills to excel in both retail and manufacturing sectors. He went on to highlight the broader investment landscape in Oman, citing the nation's strong economy, stable security environment, and continued infrastructure advancements. "Oman has transformed into an investment hotspot, thanks to its stable economy, secure environment, and ongoing upgrades in infrastructure," he said. "The government's proactive approach in creating a favourable business climate offers tremendous opportunities in tourism, manufacturing, retail, and other sectors." Lulu Group is also deepening its presence in Oman, with plans for further expansion. "We're not just focusing on retail but are also growing our e-commerce and Q-commerce (quick commerce) operations. Our new procurement centre is operational, and we are increasing the sourcing of local products," he added. In addition to its retail expansion, Lulu is moving into local manufacturing, with plans for increased meat and vegetable processing. "We are committed to expanding our manufacturing and processing capabilities to support the local economy and meet the growing demand for high-quality products," said Yusuff Ali. On the topic of foreign investment in the Sultanate, Ali encouraged global investors to look to Oman, citing its improving business environment. "Oman is continuously refining its regulations and making it easier to do business. With transparency and clear policies, this is an excellent time for foreign investors to come and explore the opportunities available," he said.
Times of Oman
19-02-2025
- Business
- Times of Oman
Lulu Group expands operations in India; Nagpur project in initial stage of architectural planning says Chairman, Yusuff Ali
New Delhi: Lulu Group International is soon set to expand its business in India with a new project in Nagpur. In an exclusive conversation with ANI the company's Chairman and Managing Director, M.A. Yusuff Ali, shared that the group is in the early stages of planning for its expansion in these cities including Vishakhapatnam and Ahmedabad. "We want to be a part of India's journey towards becoming a USD 5 trillion economy under the dynamic leadership of Prime Minister Narendra Modi. We are now constructing one of the biggest shopping malls in Ahmedabad, and negotiations have started for another one in Visakhapatnam. Additionally, we are in the initial stage of architectural planning for a new project in Nagpur," Yusuff Ali stated. He also expressed gratitude towards Andhra Pradesh Chief Minister N. Chandrababu Naidu for his support in setting up shopping malls in Visakhapatnam. Nagpur has emerged as a key focus area for Lulu Group, with Yusuff Ali reaffirming the company's commitment to the city. "Nagpur is one of our priorities, and we are currently in the early planning stage for our expansion there," he said. Speaking on India's international trade and investment relations, Yusuff Ali highlighted the strong partnership between India and Qatar. "The relationship between India and Qatar is brotherly. We saw our Prime Minister himself receive the Amir of Qatar at the airport, which shows the strength of this bond. India is growing rapidly, and Qatar is one of its key partners. They are looking to invest in various sectors, including artificial intelligence, digitalization, IT, food processing, and food security," he added. Lulu Group, one of the largest retail chains in the world is continuously expanding its presence in India, contributing to the country's economic growth through retail and food processing investments. Lulu Group chairman is on India visit on the sidelines of Qatar's Amir official visit to India. The Qatar Amir is on a two-day state visit to India. He is accompanied by a high-level delegation, including ministers, senior officials and a business delegation. He had earlier come to India on a State Visit in March 2015.
