Finance Minister Fayval Williams
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Finance Minister Fayval Williams
The Ministry of Finance on Thursday launched GOJEP 2.0, an upgraded version of the government's electronic procurement system, to make it easier for small and medium-sized businesses to compete for public contracts.
The platform is expected to improve access to government procurement opportunities while providing better data on procurement timelines, competition and participation by micro, small and medium-sized enterprises.
The government spends approximately $470 billion each year on goods, services and works from the private sector.
However, Finance Minister Fayval Williams said despite the size of that market, only about 1 per cent of government contracts currently go to micro, small and medium-sized enterprises.
"It's easier to use. You no longer need to install extra software just to submit a bid. You log in from any ordinary web browser on any device, including your phone. It's better connected. The system now talks to other government systems, so the same information doesn't have to be entered twice," said the minister.
She noted that the upgraded procurement portal is aimed at changing that by creating a more efficient and transparent system that allows smaller businesses to compete for government contracts.
The Ministry said the improved platform will also help policymakers identify areas where further improvements are needed to increase MSME participation in public procurement.
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