Saudi Arabia's Ministry of Finance on Tuesday launched 12 new products on its digital portal Etimad to cater to new segments of beneficiaries from the public as well as private sector.
The ministry's digital portal allows government bodies and private sector contractors to make use of the electronic services for procurement, budget management, vendor selection, and contract and payments management.
The beneficiaries of the new products include contractors and suppliers, banking and financial sector and government employees.
Commenting on the development, Ahmad Alsuwaiyan, deputy minister for technology and development at the Ministry of Finance, said that the ministry in line with Vision 2030 has made great efforts over the past years to promote digital transformation plans within the government ecosystem and launched several initiatives toward this end.
It has also empowered government entities to manage resources effectively and efficiently, and strengthened partnership & transparency with the private sector, Alsuwaiyan added.
The new products that have been launched on Etimad are the following:
Budget services — to provide budget planning and execution services between government entities and MOF, including transfer and inquiries on budget items.
Etimad marketplace — allows for open movement of transactions between the public & private sector (contractors & suppliers), and provides lists of products and services at standard rates under framework agreements.
Financial claims — enable the private sector (contractor & suppliers) to submit financial claims to government entities through Etimad, and to complete the procedures of e-payment cycle, subject to gradual activation.