President of Kyrgyzstan Sadyr Japarov signed law of the Kyrgyz Republic on public procurement. Press service of the President of the Kyrgyz Republic reported.
The law was passed by Parliament on April 6.
The purpose of the document is to improve the well-being of the nation through sustainable development by regulating relations related to ensuring functioning of procuring entities, in order to create conditions for achieving maximum benefits through the efficient and economical use of resources.
«The law aims to simplify public procurement procedures and minimize corrupt practices. It provides for four methods of procurement, such as unlimited, limited, request for quotations and single source method,» the press service noted.
At the same time, the law does not regulate procurement by state and municipal enterprises, joint stock companies, where 50 percent or more in the authorized capital belongs to the state, including their subsidiaries.
