The Verkhovna Rada of Ukraine adopted the Law “On Public Procurement”, which provides for a comprehensive update of the system taking into account European standards and requirements for integration into the European Union. A total of 245 parliamentarians voted for the document.
According to the report of the press service of the Verkhovna Rada of Ukraine, Law No. 11520 is one of the key European integration acts and an important component of the negotiation process for Ukraine’s accession to the EU. Its provisions are aimed at approximating national legislation to European Union law and harmonizing rules in the field of public procurement.
“The law should become an effective tool for saving budget resources, strengthening the trust of international partners and increasing the efficiency of the use of public funds. The document will also contribute to strengthening Ukraine’s positions in the negotiations for accession to the EU”, the report says.
The document should form a modern, transparent, competitive and efficient procurement system that will meet the needs of the state in the conditions of martial law, post-war reconstruction and international obligations of Ukraine. The main body during the development of the draft law was the Committee of the Verkhovna Rada of Ukraine on Economic Development.
“The World Bank Law, this will unlock 3.5 billion dollars”, — noted the People’s Deputy of Ukraine Yaroslav Zheleznyak.
The adoption of the law should become part of a broader process of updating public administration and adapting Ukrainian procedures to the standards of the European Union.
