Azerbaijan Saves $267M Through Electronic Public Procurement

(MENAFN- Trend News Agency) BAKU, Azerbaijan, October 14. Azerbaijan saved 454 million manat ($267.1 million) in state budget funds through electronic public procurement from January through August this year, according to a video prepared by the State Agency for Antimonopoly and Consumer Market Control and shown at the 3rd National Competition Forum on Wednesday, Trend 's correspondent reports from the event.

The video stated that 5,523 electronic procurement procedures with a total value of 2.703 billion manat ($1.59 billion) were conducted during the reporting period. The total value increased by 10.3% compared to the same period last year.

The average number of suppliers per electronic procurement procedure was 3.5, while new participants accounted for 21.12%. Small and medium-sized enterprises accounted for 79% of total procurement.

A system has also been developed to automatically analyze and verify tender documentation for procurements announced on the unified state procurement portal using artificial intelligence technologies.

In addition, a system has been introduced that allows suppliers to submit price offers entirely electronically and include information on the brand, model, manufacturer, and country of origin of goods in their proposals.

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