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Saudi Gazette report
RIYADH — Minister of Finance Mohammed Al-Jadaan emphasized that Saudi Arabia will enhance the use of technology to achieve spending efficiency. “Spending efficiency does not mean reducing the spending, but rather exploiting resources and redirecting them to achieve a higher impact,” he said while addressing the Riyadh Spending Efficiency Forum 2024 on Monday.
Al-Jadaan said that the long-term planning achieves the desired impact and the level of service provided to citizens. “However, the weak coordination between government agencies leads to useless spending with a negative impact. When the Vision 2030 was launched and the movement to develop services began, there was a project in one of the regions on which billions were spent, but its impact was zero as it did not serve citizens,” he said.
Al-Jadaan noted that Saudi Arabia has increased spending on newborn screening tests after discovering that the percentage of patients among them is several times higher than the global average, and the outcome has had a very high impact on protecting children from genetic diseases.
The minister also emphasized the goal of establishing the Expenditure Efficiency and Projects Authority (EXPRO) to help government agencies achieve efficiency and positive impact in projects.
The “Spending Efficiency Forum”, which began on Monday, gathers together decision-makers, group of economic experts, academics and thought leaders with the aim of highlighting the outstanding achievements in the journey of government spending efficiency in Saudi Arabia, in addition to enhancing cooperation between local and international entities.
The forum delves into the most important spending efficiency methodologies and their role in improving financial and administrative performance. It includes dialogue sessions that bring together thought leaders and experts to discuss the best ways to achieve spending efficiency and improve the quality of projects, assets and facilities, enhance the effectiveness of government procurement processes, and review opportunities for improving governance according to global best practices, in addition to holding 24 workshops.
The activities accompanying the forum included presentations aimed at spreading knowledge and exchanging experiences between government agencies and the private sector. An exhibition is also being held on the sidelines of the forum for a number of success partners in government agencies to highlight achievements and success stories.
The forum will witness the establishment of the “Kafa’athon” innovation challenge with the participation of many specialists and innovators. The Kafa’athon aims to develop innovative solutions for improving operational efficiency and driving sustainability across various sectors. The hackathon is divided into two tracks: Track One: Develop AI-driven financial planning tools for accurate budget management and sustainability integration. Track Two: Propose non-technological solutions to optimize asset management, resource allocation, and procurement for sustainable growth.
The Expenditure Efficiency and Projects Authority (EXPRO) aims to contribute to achieving spending efficiency in government agencies, improving the efficiency and effectiveness of government procurement operations, raising the quality of projects, assets and facilities, planning infrastructure, programs, initiatives and operational processes, developing policies, systems and methodologies, and building and qualifying the capabilities of national cadres.
