Vietnam will open its public procurement market after the EVFTA comes into effect. (Source:congthuong.vn)
Hanoi (VNS/VNA) - Vietnam will openits public procurement market after the EU-Vietnam Free Trade Agreement (EVFTA)comes into effect.
The agreement is expected to be signed at theend of this year and come into effect next year, when Vietnam will open its publicprocurement market for the first time.
The opening up of the public procurement marketunder EVFTA commitments is expected to make bidding more transparent andcompetitive, and offer a better quality of goods.
Goods from the 28 EU member nations will complementVietnamese products. Meanwhile, investors will have to work more and moreresponsibility so that taxes are more effectively spent.
The opening of the market will also provideopportunities for Vietnamese contractors to reach the EU’s large public procurementmarket.
Vietnam will have two options when selectingbidders under the agreement. In the first instance, only bidders and goods fromthe EU countries that are part of the EVFTA will be allowed to take part in thebidding. For cases of a larger and more complex scale, Vietnam may addnon-members of the EVFTA to ensure an efficient bidding process.
In the future, Vietnam also plans to encouragethe private sector to get involved in the public procurement market. TheMinistry of Finance is drafting this project which will assess the status ofprivate enterprises participating in the public procurement market and marketsproviding public services.
It will also review the advantages anddisadvantages to propose mechanisms and policies to encourage privateenterprises to join these markets.
The project is expected to be implemented from2019 to 2021.-VNS/VNA
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Vietnam will open its public procurement market after the EVFTA comes into effect. (Source:congthuong.vn)
