News / November 07, 2019

A workshop for the private sector reviews the most prominent features of the new governmen ...

The Ministry of Finance and the Expenditure Efficiency Center, in cooperation with the Local Content and Government Procurement Authority, recently organized a workshop to introduce the new government competition and procurement system, in the presence of representatives from the private sector.
The workshop touched on the most prominent features of the new system, its objectives and scope of application, in addition to the most important changes in it compared to the previous system, and the workshop also addressed the provisions of the list of preference for local content, small and medium enterprises, and companies listed in the financial market, and their role in the development of the local economy.
The new government competition and procurement system, issued by virtue of the royal decree, aims to enhance the effectiveness of financial planning, raise the efficiency of spending on development projects, achieve financial balance, prevent the influence of personal interests, enhance integrity and competition, achieve the principle of equal opportunities, regulate procedures, and promote economic development, And to achieve the best value and protection for public money, and to provide fair treatment for competitors.