Bidders to publicise contracts
Bidders to publicise contracts
To improve openness and transparency, the Ministry of Planning and Investment, MPI, has asked contractors to make their bids accessible to the public on the National Procurement Network (NPN).
The new regulation will be part of the ministry’s Circular 06, effective from March 1, 2018, and aims to provide an important legal framework for regulating biddings and contracts while ensuring confidentiality between the contractors and the procuring entity.
The MPI’s circular explains the provision of information on selecting contractors while investors and solicitors must provide authorities with at least 12 types of information.
As stated on the MPI’s official online news site, baodautu.vn, this decision is a significant improvement in the monitoring and evaluation of bidding activities.
Online registration for bidders on the NPN’s e-database consists of four steps and is free of charge, but registration forms can also be sent to the National Bidding Centre in Ha Noi, to be approved within two working days.
The new regulation on disclosing bidding contracts focusses on project information, contractor selection plans and results, as well as possible contract cancellations and other additional relevant information.
With such transparency, investors can feel greater ease in inspecting contractor experience, capacity and performance within the bidding verification and evaluation process. The MPI hopes that it will minimise red tape, waiting times and the falsification of contractor quality.
The MPI is confident that the principle of providing bidding information is objective, accurate, timely and transparent. Information is provided systematically, is linked and in chronological order, in accordance with the law.
Therefore, State management agencies responsible for tendering can completely monitor real estate developers and contractors in real time, and enforce sanctions for any violations.
