In his capacity as the Dubai ruler, the Vice President and Prime Minister of the UAE HH Sheikh Mohammed bin Rashid Al Maktoum has issued a law on contracts and warehouse management.
The law aims to create a framework and set standards for regulating procurement processes of government entities in line with the vision of Dubai Government to meet the highest global benchmarks in this domain, reported state news agency Wam.
It also seeks to develop an efficient system for government entities to further raise the quality of their procurement and warehouse management.
The new legislation outlines the responsibilities of Dubai’s Department of Finance, the Smart Dubai Government Establishment and all units responsible for inventory management in government entities.
The finance department is tasked with creating guidelines for the governance of procurement, and asset and inventory management, as well as drafting policies and decisions related to unified procurement processes, while Smart Dubai is tasked with coordinating with public entities to create a unified online government system to manage contracts and inventory.
Besides this, it will also help develop associated systems and programmes; ensure proper operations, maintenance, updates and supervision of the system; and monitor compliance of government entities with the system.
It also seeks to create unified government procurement processes to achieve the highest levels of financial efficiency, stated the report.
The new law seeks to foster integrity, transparency and equal opportunities among suppliers and provide a legal framework for automating the procurement and warehouse management operations of government entities as part of achieving Dubai’s smart transformation objectives, it added.
The Law seeks to unify rules and regulations governing government contracts and warehouse management, ensure sound governance of procurement, asset disposal and inventory management, and preserve government assets.