Changes to Public Procurement Act

Changes to the management of "turnkey" contracts and elimination of abbreviated tenders are part of the changes included in the bill which has already been approved by the Executive in Panama.

Wednesday, February 17, 2016

The bill was sent by the government to the National Assembly, where it will be discussed for approval.

From a statement issued by the Presidency of Panama:

In order to streamline public procurement processes and improve the levels of transparency in the State's procurement system, the Cabinet has approved a package of amendments to Law 22 of June 27, 2006, which regulates public procurements.

This initiative, product of an extensive consultation process with civil society and private enterprises, aims to establish the rules and the basic principles governing mandatory public contracts made by the central government, autonomous and semi-autonomous entities, financial intermediaries and corporations in which the state owns 51% or more of the shares or assets, as well as those that may use public funds and national assets.

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More on this topic

Panama: NO to Companies Condemned in Other Countries

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Guatemala: New Rules for Public Procurements Take Effect

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