New public spending law on the way
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The Planning and Budget committee of the Egyptian parliament is currently discussing a new bill regarding tenders and auctions carried out by the government which were regulated by the Law 89/1998 so far.
The main aim of the new law is more regulation to government spending to cut out any excess and eliminate corruption.
The new law also gives power to companies participating in government procurement in terms of access to information, being able to complain and resort to a special court in disputes.
Tenders also will not solely depend on the price but also on the record of the bidder. They will be divided in 2 sessions the first for specifications and another for the prize.
Insurance will also drop for projects announced by the government from 2% to 1.5% which should attract more bidders.
The main aim of the new law is more regulation to government spending to cut out any excess and eliminate corruption.
The new law also gives power to companies participating in government procurement in terms of access to information, being able to complain and resort to a special court in disputes.
Tenders also will not solely depend on the price but also on the record of the bidder. They will be divided in 2 sessions the first for specifications and another for the prize.
Insurance will also drop for projects announced by the government from 2% to 1.5% which should attract more bidders.