Tenders set at one million dinars without device approval
An official legal decree has been issued to amend the Public Tenders Law in Kuwait, aiming to simplify procedures and improve the efficiency and transparency of procurement and tender processes, especially in the oil sector and small and medium-sized enterprises. The amendments include increasing the contract value requiring approval from the Central Tenders Agency to one million Kuwaiti dinars, removing the membership of some entities from the Board of Directors, restricting the use of local agents in contracts, and prioritizing local products. Additionally, the decree expanded the Kuwait Petroleum Corporation’s authority in procurement operations and enhanced the flexibility of urgent contracts, all with the goal of achieving faster and fairer procedures while ensuring oversight and governance.
Notice: This Is an AI-Generated Summary
Comments (0)