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Smart Public Procurement for Better Public Spending in Latin America and the Caribbean

Inter-American Development Bank

Public procurement spending accounted for an average of 30% of total public spending across the region [1] and as much as 74% of that spending is wasted due to inefficiencies [2] , according to data from FISLAC , an analytics platform developed by the IDB’s Fiscal Management Division (FMM).

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Advancements in Transparency and Integrity through Blockchain in Public Procurements

Public Contracting Institute

In the era of digital transformation, blockchain technology emerges as a beacon of hope for enhancing transparency and integrity in public procurements. By leveraging blockchain’s capabilities, these entities can significantly mitigate corruption risks, streamline operations, and foster a more transparent procurement environment.

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Why Malaysia needs a new public procurement law

Open Contracting Partnership

Malaysia must set out clear principles for all public procurement procedures in a single piece of overarching legislation and create a robust and comprehensive public procurement law rooted in open contracting principles – putting transparency, competition, and efficiency at the forefront.

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Key Principles of Public Procurement: Transparency, Value, and Fairness

Tracker Intelligence

If public sector bodies and organisations follow clear procurement regulations, they can help uphold high standards of accountability, while still achieving the best results for the general public. A transparent approach lowers procurement risk, prevents corruption, and fosters confidence between suppliers and public sector organisations.

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10 success factors for implementing e-procurement system

Open Contracting Partnership

Public procurement needs to be more transparent, efficient, and accountable to tackle the major social and economic challenges faced by governments across the world. Transparency on legal and regulatory frameworks To make e-GP systems work effectively, it’s essential to have supportive legislative arrangements in place.

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How to Bid on Government Jobs: A Practical Guide

Select GCR

Additionally, having a solid accounting system that adheres to generally accepted accounting principles is essential for maintaining compliance and ensuring successful contract management. Detail your methodology to explain how you plan to maintain transparency and address issues promptly.

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Understanding the new Procurement Act 2023: What suppliers need to know - Part 1

VWV

The Procurement Act 2023 (the Act) introduces a range of reforms aimed at simplifying and enhancing transparency in the procurement process, which should be good news for suppliers. Part 2 will cover the debarment list; contract award process and what options are available to suppliers if things go wrong.