Gov’t Launches Set-Asides Framework to Advance Public Procurement

Reporter: Krystol Williams

 

 

Every public dollar must deliver rail value for taxpayers while driving economic transformation. Finance and Public Service Minister Fayval Williams made the point at the MSME procurement integration project in Montego Bay, St James, underscoring her ministry's commitment to strengthening small businesses and investing in their long-term success.

 

Billions of Jamaican dollars are procured yearly in goods, services, and works, according to Minister of Finance and the Public Service Fayval Williams.

 

But government spending should accomplish more than meeting operational needs. The minister says it should also stimulate enterprise, create employment opportunities, and support economic transformation.

 

She said, “The public procurement Set-Asides order was specifically designed to create opportunities for qualifying micro, small, and medium-sized enterprises to compete for contracts that match their scale and capacity, allowing them to build experience, strengthen their businesses, and expand over time.”

 

She emphasized that participation begins with visibility as the government cannot procure from businesses that are not a part of the formal system.

 

She says the set-asides framework recently announced in parliament will help to make this process easier.

 

“And that is why supplier registration, business formalization and procurement readiness, that is understanding the procurement system and preparing yourselves to compete, are essential. and we are making it easier for you to enter to upload your information and we're going to be monitoring the set-aside to ensure that it is actually happening.”

 

The government also recognizes, however, that procurement alone is not sufficient to build successful businesses.

 

“MSMES also need access to financing, technical assistance, training…That is why this initiative forms a part of a broader national strategy to strengthen Jamaica's entrepreneurial system. Through the Ministry of Industry, Investment and Commerce, businesses continue to receive support for formalization and business development.”