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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. Key Takeaways Aspect Impact of Blockchain Transparency Ensures real-time visibility and traceability of transactions.

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Why Malaysia needs a new public procurement law

Open Contracting Partnership

Among the reform areas identified was the country’s public procurement system. The strategy outlined in the NACP aimed to establish a dedicated public procurement law and revamp existing procurement practices. But at the heart of this transformation lies the principle of transparency.

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UN’s first ever resolution on public procurement: what makes it strong and what’s still missing

Open Contracting Partnership

At 2 am on Saturday morning, the day after the 10th Conference of the States Parties to the UN Convention against Corruption (UNCAC) was meant to end in Atlanta, exhausted negotiators finally adopted a resolution on “ Promoting transparency and integrity in public procurement in support of the 2030 Agenda for Sustainable Development ”.

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European Commission transforms public procurement across Europe with AWS and NTT Data

AWS Public Sector

Public procurement—the process where public authorities like government departments or local councils purchase goods or services from companies—is a vital economic driver in Europe, accounting for more than 13 percent of the gross domestic product (GDP). Architectural diagram of the PPDS.

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Effectiveness and Efficiency in Public Procurement: Key Pillars for Optimal Resource Management

The Procurement ClassRoom

Introduction In public procurement , effectiveness and efficiency are crucial for achieving optimal results using public resources judiciously. The interplay between these principles ensures the responsible and transparent management of public funds, crucial for meeting community needs while optimizing economic benefits.

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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). What is Smart Public Procurement?

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Blockchain Technology and AI in Public Procurement

The Procurement ClassRoom

Integrating blockchain and artificial intelligence (AI) into public procurement processes holds significant promise for enhancing efficiency, effectiveness, and transparency, potentially reducing corruption. This minimizes human intervention, the primary source of corruption in public procurement.