The modifications to Law 340-06 on Public Purchases and Contracting, converted into Law this Wednesday by the Chamber of Deputies, raise from 5% to 10% the percentage of purchases that must be made to micro, small and medium-sized enterprises (MSMEs) led by women.
It also increases from 20% to 30% the advance payment that public institutions must make to contracted micro, small and medium-sized enterprises (MSMEs), in order to stimulate their growth and guarantee their sustainability.
This was revealed by Carlos Pimentel Florenzán, director of the General Directorate of Public Procurement of the Dominican Republic, during the panel “Public Procurement as a Driver of the Economy”, organized by the newly created Association of Contractors and Suppliers (ACS).
He also indicated that the percentage of purchases that must be made from micro, small, and medium-sized enterprises (MSMEs) also increased from 15% to 20%.
He also pointed out that the modifications to the Procurement Law seek to stimulate national production, which is why it gives priority to what is produced in the country to meet the needs of public institutions for their operation.
The Law, which will come into force in January, now goes to the Executive Branch for its enactment, and aims to establish the legal regime for public procurement, by determining the bodies, principles, procedures and rules that apply to it, in order to guarantee an efficient use of public funds.
The panel organized by the Association of Contractors and Suppliers (ACS) brought together important figures from the legal, economic, media, and civil society fields, who addressed, from different perspectives, the challenges and opportunities posed by the new regulatory framework in the area of state purchases and contracts.
