Editor’s note: The findings, interpretations and conclusions expressed herein are those of the authors and do not necessarily reflect the view of the World Bank Group, its Board of Directors or the governments they represent.
For business, the conversation around tax and sustainable development can be tough. Yet
ANNOUNCEMENT OF THE GLOBAL RIA AWARD 2017
Any visitor to Armenia can testify that the country has delicious food. But diners need to be assured that the khorovats, dolma, or basturma on their plates will not make them sick. How can this be assured?
Some 65 percent of the 320,000 inhabitants of the Brazilian city of Rio Branco use bicycles as their primary mode of transportation, and the popularity of biking is increasing across the country. But Brazil’s 40,000 annual traffic related fatalities makes protective gear a necessity. What is appropriate protection?
India is the fastest-growing major economy in the world with significant Government investments in infrastructure. According to estimates by WTO and OECD, as quoted in a report from the United Nations Office on Drugs and Crime, India: Probity in Public Procurement, the estimated public procurement in India is between 20 and 30 percent of GDP.
This translates to Indian government agencies issuing contracts worth an estimated US$ 419 billion to US$ 628 billion each year for various aspects of infrastructure projects. Ideally, in contractual agreements no disputes would arise and both sides would benefit from the outcome. However, unexpected events occur and many contracts end in dispute. Contractual legal disputes devoid project benefits to the public as time and resources are spent in expensive arbitration and litigation. As a result, India’s development goals are impacted.
For governments to carry out their day-to-day functions, procurement -- or their ability to purchase goods and services -- is critical. It is both a service function and a strategic policy tool which can help achieve a broad range of social and economic welfare objectives. It cuts across all areas of public administration and builds on cooperation among multiple public and private stakeholders.
. Promoting innovation in procurement means processes that are transparent and efficient, and that facilitate equal access and open competition. to delivering better services with long-term value for money.