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Procurement as a Strategic Driver of Digital Transformation Public procurement wields immense influence over markets, technology adoption, and the direction of societal progress. Governments worldwide control vast budgets through procurement, giving them the power to: Drive innovation by demanding advanced solutions from vendors.
They create an enabling culture for innovation and promote transparency and trust in digitized services. Public-privatepartnerships (PPPs) Governments collaborate with private sector companies, industry associations, and academic institutions to develop joint initiatives and projects to advance digital transformation.
Values transparency and is thoughtful/ strategic about public engagement. Public/privatepartnerships have great data gathering and sharing potential. Privacy, transparency, legal and security concerns exist. GIS skills are in demand and somewhat specialized. Focuses on outcomes, not outputs.
However, it also introduces complexities that demand forward-thinking fiscal strategies. AI can introduce data-driven insights for more evidence-based and transparent budgeting. Algorithms can help identify inefficiencies, prioritize spending according to measurable performance metrics, and reduce wasteful use of public funds.
When dealing with the latter, questions of transparency and the extent to which the arbitration will be private come into play. International commercial arbitration is restricted by public law forbidding the adoption of foreign seats for disputes of certain types, such as public-privatepartnerships.
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