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Publicprocurement 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). What is Smart PublicProcurement?
However, one critical element often overlooked in these discussions is publicprocurement. Far from being a mere bureaucratic task, procurement is the mechanism through which governments acquire the infrastructure and technology needed for this transformation.
In the era of digital transformation, blockchain technology emerges as a beacon of hope for enhancing transparency and integrity in publicprocurements. By leveraging blockchain’s capabilities, these entities can significantly mitigate corruption risks, streamline operations, and foster a more transparent procurement environment.
Publicprocurement these days is not just about acquiring goods and public services at low costs. Social value is a transformative approach shaping how public contracts are awarded and executed. What Is Social Value In PublicProcurement? Why Does Social Value Matter In PublicProcurement?
Publicprocurement should be all about people. That’s why we are leading our new strategy with a bold ambition that puts people right at the center of our work and impact. Our world runs on public contracts. Publicprocurement covers $13 trillion of spending every year, one in every three dollars spent by our governments.
A number of webinars we have held at GW Law School, including a July 2024 series on emerging international best practices, confirmed that there are many parallels between these “green procurement” strategies. Strategies In “Green Procurement,” 66 Gov. Planning The first strategy looks to procurement planning.
Publicprocurement plays a significant role in economic and social growth by assuring that governments deliver vital services and infrastructure to their societies. This article will focus on tackling challenges in the publicprocurement process and suggests practical solutions for these challenges.
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