The Tribune

By YOURI KEMP

Tribune Business

Reporter

ykemp@tribunemedia.net

THE Prime Minister yesterday reiterated that his administration remains committed to allocating 5 percent of the Government’s annual procurement budget to young Bahamian entrepreneurs.

Philip Davis, speaking at the launch of the Government’s upgraded electronic procurement portal, said that while backing the “merits of competitive procurement processes” to win public sector contracts his administration was also eyeing “legislation for intentionally discriminatory practices to ensure that small businesses, Family Island vendors and women are afforded access to and opportunities for participation in the economy.

“Small businesses, Family Island businesses, businesses owned by women, and businesses owned by young Bahamians will be monitored as key performance indicators (KPIs) for this administration,” he added. “However, for the sake of clarity, let me say this. Nobody should be deprived of opportunities to contribute to national development through procurement.”

Pointing out that the $795m allocated in combined recurrent and capital spending in the 2022-2023 Budget “represents vast procurement opportunities for goods and services, and for construction services”, Mr Davis also acknowledged perceptions that previous government tender processes have fallen short of the highest standards when it comes to integrity and fairness.

“Particularly, firms in the US identified corruption as an obstacle to the foreign direct investment (FDI) approvals process, and reported perceived corruption in government procurement,” the Prime Minister said, referring to the annual US Investment Climate report on The Bahamas.

“That is why we committed to fiscal consolidation, and the modernisation of infrastructure to justify and procure public goods and services in an efficient, transparent and accountable manner,” he added. Mr Davis said the upgraded electronic procurement portal is necessary because the previous version, which was unveiled in 2005, is now too limited in its functions and scope.

“We have carefully selected this solution because it will ensure that procurement is consistent across the public sector, reducing cost without compromising quality, minimising product failures, and assuring operational efficiency to improve outputs of the supply chain,” the Prime Minister said.

Khrystle Rutherford- Ferguson, the Bahamas Chamber of Commerce and Employers Confederation’s (BCCEC) chairman, said public procurement represents up to 30 percent of gross domestic product (GDP) in developing nations such as The Bahamas and is an “important tool, particularly now as our country continues to rebound from the impacts of the COVID-19 virus.

“The Chamber of Commerce, as a part of its mandate, supports initiatives which bring with it opportunities for the business community. We are advised that the e-procurement portal provides increased opportunities for small and medium-sized Bahamian businesses to participate in national procurement.

“Governments are an important source of business for the private sector, who in turn builds communities and provide jobs. As persons with vested interests in the success of our very young country, we can all appreciate that at all levels, we should want to see systems implemented that are efficient, that are fair, and that are accountable.”