Finance Ministry Partners With Lulu Hypermarket To Boost Digital Procurement Efficiency

Ministry of Finance has entered into a strategic partnership with Lulu Hypermarket to enhance the efficiency of the government's digital procurement system. Through this agreement, federal entities will be able to access a diverse selection of products at competitive prices via the digital procurement platform.

The signing ceremony, held in Dubai, was attended by Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs, and Yusuff Ali, Chairman and Managing Director of Lulu Group International.

"This strategic agreement is part of the Ministry of Finance's ongoing efforts to develop and enhance the efficiency of the government procurement system, in line with the federal government's vision for more flexible and sustainable business models," Al Hussaini was quoted as saying by WAM.

"Through this partnership, we aim to provide diverse, high-quality options that meet the needs of federal entities while promoting transparency and competitiveness," he added.

Ali, on the other hand, expressed pride in partnering with the Ministry of Finance through this strategic agreement, emphasizing its significance in strengthening public-private partnerships and supporting the development of the UAE's federal digital procurement system.

He highlighted that by offering high-quality products at competitive prices via the federal catalogue, Lulu Group is committed to aligning with the government's vision for efficient and sustainable resource management.

He also noted that the introduction of the "Punch Out" feature between the digital procurement platform and Lulu Group's website marks a major advancement in e-procurement integration. Ali expressed eagerness to continue this collaboration for the benefit of all involved parties.

During the agreement signing, the Ministry of Finance introduced the new "Punch Out" digital navigation feature, linking its digital procurement platform with Lulu Group's e-commerce platform.

This feature allows federal entities to seamlessly access the supplier's platform, select products, place orders, and complete the procurement process efficiently. Lulu Hypermarket is one of the first suppliers to activate the "Punch Out" feature, highlighting the continued expansion of the platform's integration with local suppliers.

The digital procurement platform is a key initiative in the UAE's federal digital transformation, streamlining procurement processes, enhancing transparency, and reducing operational costs.

The Federal Catalogue on the digital procurement platform is a key initiative in the UAE's digital transformation of government procurement. It aims to streamline the purchasing process, reducing the procurement cycle from 60 days to just six minutes.