Business & Money | Thursday 18 July, 2019 11:00 am |

The Government of the Custodian of the Two Holy Mosques King Salman bin Abdul Aziz, the Crown Prince of the financial sector, has taken care and interest, which reflected positively on his work and his relentless plans for the development process in line with the qualitative leap Saudi Arabia is currently taking in various fields. And prosperity, as the recent decision of the Cabinet of Ministers to approve the system of competition and new government procurement, and the preparation of a royal decree, for the best evidence of the leadership's interest in the financial sector, which contributes to the growth and motivation.
The new government competition and procurement system promotes integrity and competition, promotes equality and provides fair treatment to competitors. In order to achieve the principle of equality of opportunity, it regulates procedures related to business and procurement. The exploitation of influence and the influence of personal interests prevent the protection of public funds. Business and procurement are implemented at a fair competitive price, ensures transparency in all business processes and purchases, and promotes economic development.
The new government competition and procurement system is a key and advanced means of achieving the objectives of the Ministry of Finance's Vision 2030. It will contribute to achieving financial balance by enhancing the efficiency of financial planning, managing financial resources effectively and organizing and governance of government procurement procedures. Global best practices, and addresses shortcomings in the current system; to improve the efficiency of expenditure in development projects.
The procedures and policies developed in the new system include the planning of the work and procurement of the governmental entity, the publication of its business plans and purchases, the creation of a unified portal that offers competition and government procurement, Competition in two phases, framework agreements, competition, localization of industry and transfer of knowledge.

The competent authority in the system of competition and new government procurement of the unified procurement to conclude framework agreements in the works that are frequently secured by government agencies, which facilitates and expedite access to goods and services, and the new system can review the feasibility studies and specifications and specifications of government agencies before the launch, Brochures, contracts and procurement documents, and participation in the examination committees.
The new system has been developed to meet the needs of the public and private sectors, taking into account the contractors and contractors sector. A clear mechanism has been put in place to adjust the prices of contracts and compensation in the event of a rise in the prices of raw materials, customs duties, taxes or if the contractor faces material difficulties that could not be expected during the execution of the contract, The Government has also been given the right to make payments directly to contractors and subcontractors.
The system of competition and new government procurement went through a number of stages before it was issued. The provisions of the current system were studied in different aspects. This was compared with similar systems in developed countries. The expert opinions, specialists and views were used to get the system to the best possible level. .

The new system contributes to the promotion of economic development through the development of government procurement and procedures to achieve the objectives of the local content, and strengthens the national industry, and supports the national human element, by increasing the employment opportunities for citizens and citizens, and supports the local small and medium enterprises, Ensuring the sustainable development of companies and devoting the concepts of governance to contribute to the protection of its future. The system also encourages family businesses to be included in the market. To safeguard it and protect its future.

The new government competition and procurement system achieves the maximum efficiency of government spending by identifying the actual needs of government agencies and raising the quality of their business and procurement practices by assessing contractor performance and quality.
The Center for the Investigation of Spending Efficiency is the competent authority for the unified procurement. It plays a major role in the new government competition and procurement system, in cooperation and coordination with the concerned authorities, through the conclusion of framework agreements in the works that are repeated by government agencies. As well as preparing brochures, contracts and procurement documents, designing training programs and participating in some examination committees.