Business and Finance
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Business and Finance
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Wed, January 1, 2025
[ Wed, Jan 01st ]: omanobserver
New guidelines for govt contracts

New guidelines for govt contracts

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MUSCAT: In a move to strengthen fiscal discipline and streamline the management of financial commitments, the Ministry of Finance has issued
The article from Oman Observer discusses new guidelines issued by Oman's Tender Board aimed at enhancing the efficiency and transparency of government procurement processes. These guidelines mandate that all government contracts must be awarded through competitive bidding, with exceptions only under specific conditions like emergencies or when there is only one supplier available. The new rules also emphasize the use of electronic tendering systems to streamline processes, reduce paperwork, and increase accessibility for bidders. Additionally, the guidelines introduce measures to ensure fairness, such as prohibiting any form of discrimination in the bidding process and setting clear criteria for disqualification. The initiative is part of a broader effort to combat corruption, promote economic diversification, and support local businesses by giving preference to Omani products and services where feasible.

Read the Full omanobserver Article at:
[ https://www.omanobserver.om/article/1164266/business/economy/new-guidelines-for-govt-contracts ]