Public Procurement (Government Procurement)

Public procurement is the process through which governments and public sector organizations acquire goods, services, and construction projects from private companies. It involves a structured system of rules and procedures to ensure transparency, fairness, and value for taxpayers’ money. This process includes identifying needs, inviting bids or proposals, evaluating options, and awarding contracts. Public procurement aims to promote competition, prevent corruption, and support economic development. It is a key way governments ensure they obtain quality services and goods efficiently while maintaining accountability to the public.