PUBLIC PROCUREMENT
Gareth Rhys Williams , Government CCO on how increased vendor profits in government procurement and how publicprivate collaboration benefits the economy
WRITTEN BY : ILKHAN OZSEVIM
Public procurement is the process by which governments and public sector organisations purchase goods , services and works from suppliers . The goal is to secure the best value for public money , while ensuring fair and transparent competition . Public procurement plays an important role in the economy by providing opportunities for businesses of all sizes to compete for government contracts . It also helps to ensure that public funds are used efficiently and effectively , while promoting transparency and accountability in the use of public resources .
The processes and skills involved in public sector procurement are the same as those in commercial settings , with one crucial difference : the function is subject to specific legal and regulatory frameworks , which vary by country and jurisdiction . In general , these frameworks set out rules and procedures for how public sector organisations can buy goods and services , including requirements for tendering , bidding and contract award .
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