Bidding Law 2013 to enhances efficiency of State capital

Bidding Law 2013 to enhances efficiency of State capital

(VOvworld) – The Bidding Law 2013 will greatly increase the state management on bidding and improve the efficiency of using the state budget.

A conference introduced the Bidding Law 2013 on Feb 13. (photo: petrotimes.vn)

Le Van Tang, Head of the Bidding Management Department of the Ministry of Planning and Investment said this at a conference in Hanoi on Thursday. “The enforcement of the Bidding Law will produce drastic changes. The previous law defined projects as state enterprises if they had more than 30% state investment capital. The revised law regulates all state enterprises proejcts. The new law will cover public projects, foreign invested projects, the bidding on medicines, and the selection of investors, none of which was mentioned in the previous law.”

The Bidding Law 2013 will come into effect on July 1 after being revised to simplify administrative procedures in the bidding process.

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