By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
DailynewsegyptDailynewsegypt
  • Home
  • Business
    BusinessShow More
    HDB allocates EGP 3.85bn to sustainable financing in 2022: Chairperson
    HDB allocates EGP 3.85bn to sustainable financing in 2022: Chairperson
    March 21, 2023
    Cooperation between MSMEDA, JICA to boost competitiveness of MSMEs
    Cooperation between MSMEDA, JICA to boost competitiveness of MSMEs
    March 21, 2023
    SCZONE discusses cooperation with American-Hellenic Chamber of Commerce
    SCZONE discusses cooperation with American-Hellenic Chamber of Commerce
    March 21, 2023
    EFG Hermes concludes valU’s 4th issuance in a securitized bond worth EGP 856.5m
    EFG Hermes concludes valU’s 4th issuance in a securitized bond worth EGP 856.5m
    March 21, 2023
    Prime Minister meets officials of German Bosch Group
    Prime Minister meets officials of German Bosch Group
    March 21, 2023
  • Politics
    PoliticsShow More
    Shoukry confirms Egypt's full support to COP28 in UAE
    Shoukry confirms Egypt’s full support to COP28 in UAE
    March 21, 2023
    Egypt’s GAH, WHO discuss cooperation in health sector
    Egypt’s GAH, WHO discuss cooperation in health sector
    March 21, 2023
    Egypt, Turkey are not competitors in Libya: FM Cavusoglu 
    Egypt, Turkey are not competitors in Libya: FM Cavusoglu 
    March 21, 2023
    Chinese President Xi Jinping said on Tuesday that China is ready to expand cooperation with Russia during his meeting with Russian Prime Minister Mikhail Mishustin.
    Xi says China to expand cooperation with Russia in trade, investment, supply chain, mega projects, energy, hi-tech
    March 21, 2023
    Egypt’s Irrigation Minister heads to New York for UN water meeting 
    Egypt’s Irrigation Minister heads to New York for UN water meeting 
    March 21, 2023
  • Interviews
    InterviewsShow More
    Government should help Egyptian arts revive its pioneering role: Omar Abdel Aziz
    Government should help Egyptian arts revive its pioneering role: Omar Abdel Aziz
    March 15, 2023
    Interconnected healthcare systems in Africa require political will from North African leaders: Amref official
    Interconnected healthcare systems in Africa require political will from North African leaders: Amref official
    March 12, 2023
    EGX ready for government’s IPOs programme: Chairperson
    EGX ready for government’s IPOs programme: Chairperson
    February 15, 2023
    British International Investment invests $4.5bn in 700 businesses across Africa: Sherine Shohdy
    February 15, 2023
    Valeo has invested around €0.5bn in Egypt over the past 10 years: CEO
    Valeo has invested around €0.5bn in Egypt over the past 10 years: CEO
    December 27, 2022
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Reading: Egypt, South Korea embark on establishment of electronic public procurement system
Share
Notification
Latest News
HDB allocates EGP 3.85bn to sustainable financing in 2022: Chairperson
HDB allocates EGP 3.85bn to sustainable financing in 2022: Chairperson
Business
Shoukry confirms Egypt's full support to COP28 in UAE
Shoukry confirms Egypt’s full support to COP28 in UAE
Politics Egypt
Egypt’s GAH, WHO discuss cooperation in health sector
Egypt’s GAH, WHO discuss cooperation in health sector
Politics Egypt
American University in Cairo (AUC) launches Excellence Scholarship Program to support outstanding students
AUC launches Excellence Scholarship Program to support outstanding students
Society in depth
Quantum mechanics- how the future might influence the past
Quantum mechanics: how the future might influence the past
Science
Aa
Aa
DailynewsegyptDailynewsegypt
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Have an existing account? Sign In
Follow US
  • Advertise
© 2023 DNE News. All Rights Reserved.
Dailynewsegypt > Blog > Business > Egypt, South Korea embark on establishment of electronic public procurement system
Business

Egypt, South Korea embark on establishment of electronic public procurement system

Nehal Samir
Last updated: 2022/02/02 at 11:37 PM
By Nehal Samir 3 Min Read
Share
SHARE

The Ministry of Finance and South Korea took an initial step forward to establish an electronic public procurement system by holding a briefing on the cooperation plan on Tuesday in the presence of Minister of Finance Mohamed Maait and the Minister of the Embassy of the Republic of Korea, Choi Byoung Sun.

The meeting was attended by Khaled Nofal, the Deputy Minister of Finance for Administrative and Technical Reform; Ahmed Al Sherif, the Minister’s Assistant for Information Technology; General Maged Younes, the Chairperson of the General Authority for Government ervices; and Doaa Hamdy, the Head of the External Relations Department. 

The project is a technical cooperation with the Korea International Cooperation Agency (KOICA) worth $7.9m and intends to develop a 100% e-procurement system that public entities and private sectors can take advantage of. 

Along with the establishment of the system, the ministry and KOICA will also re-engineer the business process to be suitable to the institutional framework and come up with a roadmap for the application and rolling-out of the new system across the public sector. 

“Integrated with the existing Government Financial Management Information System, the new system will be comprised of more than 16 services covering all the aspects of current public procurement in a way that is in line with Egyptian law and regulations,” said KOICA’s chief expert in the briefing on the project’s preparations. 

“The project seeks to realise a much easier and more efficient public procurement process for both public and private entities by linking it with current digital-based services such as e-payments and e-signatures.” 

For his part, Maait appreciated cooperating with the Korean side in establishing an integrated system for public procurement and praised the Korean experts’ involvement in the project preparation with the competent authorities in Egypt.

He reaffirmed that this project comes as a continuation of the Egyptian government’s efforts to digitally transform the Egyptian economy as per the role of the ministry in managing and raising the efficiency of government services in Egypt through the automation of the General Fiscal Information Management Service, Advanced Cargo Information, and the automation of the tax and customs systems in Egypt.

The project was officially initiated on 20 January 2022 during the official summit between President of the Republic of Korea Moon Jae-in and President Abdel Fattah Al-Sisi after Minister of International Cooperation Rania Al-Mashat and Korean Minister of Foreign Affairs Chung Eui-yong exchanged notes. 

You Might Also Like

HDB allocates EGP 3.85bn to sustainable financing in 2022: Chairperson

Cooperation between MSMEDA, JICA to boost competitiveness of MSMEs

SCZONE discusses cooperation with American-Hellenic Chamber of Commerce

EFG Hermes concludes valU’s 4th issuance in a securitized bond worth EGP 856.5m

Prime Minister meets officials of German Bosch Group

TAGGED: electronic public procurement system, procurement, South Korea
Share this Article
Facebook Twitter Email Print
Previous Article Egypt concludes its presidency of UN Peacebuilding Commission
Next Article Pharaohs challenge Cameroon for spot in AFCON final
Ad image

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Latest News

HDB allocates EGP 3.85bn to sustainable financing in 2022: Chairperson
HDB allocates EGP 3.85bn to sustainable financing in 2022: Chairperson
Business
Shoukry confirms Egypt's full support to COP28 in UAE
Shoukry confirms Egypt’s full support to COP28 in UAE
Politics Egypt
Egypt’s GAH, WHO discuss cooperation in health sector
Egypt’s GAH, WHO discuss cooperation in health sector
Politics Egypt
American University in Cairo (AUC) launches Excellence Scholarship Program to support outstanding students
AUC launches Excellence Scholarship Program to support outstanding students
Society in depth
//
Egypt’s only independent daily newspaper in English. Discuss the country’s latest with the paper’s reporters, editors, and other readers.

Quick Link

  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

© 2023 DNE News. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?