Public contracts make up a significant share of the global economy, allowing public entities and also foreign companies to obtain best value-for-money goods or services from private businesses. From common and standardized products to big infrastructure projects or innovative services, the range of sectors benefiting from public spending is very broad. This requires the presence of skillful lawyers at top Public procurement law firm in Egypt for foreign companies, with an extensive knowledge of domestic and international regulations and characteristics of several markets.
Definition of Public procurement
Public procurement refers to the purchase by governments and state-owned enterprises of goods, services and works. It is a crucial pillar of services delivery for governments. As it accounts for a large share of the taxpayers’ money, governments are expected to carry it out efficiently and with high standards of integrity to ensure the quality-of-service delivery and safeguard the public interest.
As a key activity for governments, well governed public procurement can and must play a major role in fostering public sector efficiency, establishing citizens’ trust and contributing to key governmental agenda’s like the digital transformation and green growth.
Benefits of public procurement
Public procurement is a necessary strategic development that’s vital to effective governance and efficient use of public resources. It ultimately aids in providing higher levels of service delivery to the public and helps achieve public policy goals.
Public procurement often makes use of tenders. In public procurement, the term “public tender” refers to a contract opportunity that the government organization publishes — which opens the door for several suppliers to provide the goods or services that the organization needs.
Here are some of the main benefits of public procurement as follows:
- Increased availability of public resources: Effective procurement leads to the continuity of goods and services, resulting in more sustainable resources. As such, procurement teams can ensure continuous resource availability by focusing on long-term purchase requirements.
- Lowered costs: Procurement and its costs come down to a single aspect — planning. Purchases can cost far less when properly planned since the procurement team has the upper hand. They also have a far better negotiation standing, which means suppliers or vendors will sell the same goods to them for lower prices.
- Decreased supplier risk: There’s always a risk involved when dealing with outside third parties, whether it be a legal risk, financial risk, etc. Having a procurement system in place can help identify and prevent these risks from happening.
What is the best Public procurement law firm in Egypt for foreign companies?
Given the specificity of each country’s tendering procedures, it is vital for businesses to receive the best legal advice from experienced local professionals, who know not only how to win public contracts but also how to perform them to the benefit of both public and private entities.
At “Consortio Law Firm” as the best public procurement law firm in Egypt for foreign companies, we help to go through the whole tendering procedure, solving any risks that may occur, making use of legal remedies and performing the contract in accordance with any applicable rules. We combine legal experience with a practical approach and deep knowledge of industries in which our clients operate.
We also provide assistance to foreign companies, helping them to achieve their goals through public tenders. Our Public Procurement lawyers help in setting objectives, choosing the best legal solutions and conducting the tender until the contract is awarded. A real understanding of the needs of public entities mixed with our business experience, allows us to take a creative approach when dealing with public clients.
To get more knowledge about Public procurement law, Contact our team Now via the phone number 002 01028806061 or send us a WhatsApp or email Info@consortiolawfirm.com.
