Public Procurement
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Public Procurement

Public procurement is the process by which public authorities, such as government agencies, local authorities, or public institutions, purchase goods, services, or works from external suppliers. The aim of public procurement is to ensure that public authorities obtain value for money and the best possible quality in their purchases, while adhering to legal and regulatory requirements.

The public procurement process typically involves several stages, including the identification of a need, the development of specifications, the selection of suppliers, the award of a contract, and the management of the contract. The process may vary depending on the jurisdiction and the type and value of the procurement.

Public procurement is subject to a range of legal and regulatory frameworks, such as the European Union’s Public Procurement Directive, national laws and regulations, and international agreements. These frameworks aim to ensure that the procurement process is transparent, competitive, and fair, and that suppliers have equal opportunities to participate in the process. They also aim to prevent corruption, fraud, and other forms of malpractice.

Public procurement is an important tool for promoting economic development, innovation, and social and environmental objectives. It is also a significant source of revenue for many businesses, particularly small and medium-sized enterprises. Therefore, public procurement is an area of significant interest to businesses and policymakers alike.