RIYADH — The Ministry of Finance announced Sunday the enforcement of a new policy requiring all government entities to offer and sell movable government assets exclusively through the Etimad Electronic Auction Service. The policy, which is part of the Etimad Platform, aims to enhance transparency and improve the efficiency of government asset management. Under the Etimad Auction Service, government entities can conduct the entire offering and sale process electronically, including entering asset data and pricing, announcing auctions, receiving bids, awarding contracts and issuing invoices. The ministry said mandating the use of the platform promotes equal opportunity for individuals and the private sector by providing broad and transparent access to government auctions. The approach supports fair competition and helps ensure the optimal use of public assets. The policy also protects merchants and buyers by ensuring transparency, fair competition and equal access to auctions, with all asset details, pricing and bidding processes clearly published. Standardized listings reduce misinformation, while secure electronic bidding, awarding and invoicing procedures help minimize fraud and disputes. The platform is designed to streamline the sale of government movable assets and improve the efficiency of their disposal.
