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The Ministry of Finance launched a newly updated catalog for the Digital Procurement Platform on Tuesday. This catalog consists of more than 120,000 products and services that have been spread into 35 categories by 230 suppliers.

The event was attended by representatives of over 30 federal entities, who explained the advantages of purchasing through the catalog rather than going through the traditional processes.

The representatives explained that the digital platform reduces 75% of procurement steps and requires less time to purchase any product or service.

Minister of State for Financial Affairs Mohamed Hadi Al Hussaini noted that the United Arab Emirates (UAE) wants to be a global leader in the financial field, adding that this event marks a new milestone on the path of innovation, collaboration, and the exchange of ideas.

"Together with our partners from federal government entities, we are charting a course towards a future where efficiency, transparency, and innovation define government procurement," he said, WAM reported.

According to Al Hussaini, the Digital Procurement Platform is a part of the strategic directions expressed by the five major transformational projects of the Ministry of Finance, including the Supply Strategy of the Federal Government.

The Supply Strategy of the Federal Government "aims to incorporate new categories of suppliers for the federal government to support national economic growth and enhance government efforts aimed at expanding and diversifying the supplier base in the federal government," he said.

The financial affairs minister noted that this helps improve the quality of services and products for federal procurement at competitive prices.

Furthermore, the ministry is proactively working to identify that the platform is not just "limited to connecting government entities with suppliers but also ensures achieving the objectives of this transformational project."

Al Hussaini said that this platform helps increase the readiness of government financial work that is aligned with the new government work methodology adopted by the UAE.

He noted that this digital platform meets the country's future requirements as the UAE continues its development journey for the next decade and toward the next 50 years, enhancing joint work, and forming effective partnerships with the private sector.

The new catalog categories include advertising and media services, real estate insurance, travel services, consulting services, installations and interior design, property management, information technology services, legal services, photography and video, studies and research, training, translation and others.