THE PRINCIPLE OF COMPETITION – THE KEY TO PUBLIC PROCUREMENT REGULATION
DOI:
https://doi.org/10.46827/ejsss.v0i0.151Palabras clave:
public procurement, competition, value for money, regulationResumo
Public procurement is the acquisition of public goods and services from private sector. The main goal of public procurement is to achieving best value for money. In general, an efficient public procurement system enhances a government’s public welfare role. Competition is the key to ensuring governments and citizens get the maximum value of money in the process of public procurement. Public procurement requires a regulatory framework based on the principle of competition and that submits public spending to the adherence of competitive procurement methods’ and to increase the efficiency of public spending. This research establishes the effect of competition in the regulation of public procurement. The study recommends that Government, in order to optimize the value of money, should adopt draft principles of competition procurement policies that are compatible with procurement regulations.
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