Jamaican companies shy away from e-procurement
Local suppliers of goods and services are shying away from Government's e-Procurement System.
Fayval Williams, minister of State in the Ministry of Finance says the majority of the 120 entities registered to utilize the portal are based overseas.
"The implementation of Jamaica's e-Procurement System has opened the doors of opportunities for persons anywhere in the world for registration. A significant amount of those registered so far are overseas companies. It is time that more Jamaican companies get on board," said Williams, warning that companies are putting themselves at a competitive disadvantage.
"The landscape for public procurement is evolving with the use of information technology," she said at the Jamaica Chamber of Commerce's procurement seminar in Kingston on Tuesday.
An online procurement system is meant to address transparency and speed up the contract award process.
"These initiatives are being driven by demands of Jamaicans for an improved and more transparent procurement process, which is paramount in building public confidence in how public funds are spent on goods and services and works," Williams said.