{"id":596734,"date":"2019-07-07T04:43:50","date_gmt":"2019-07-07T04:43:50","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/07\/finance-ministry-completes-executive-regs-for-public-contracts-act\/"},"modified":"2019-07-07T04:43:50","modified_gmt":"2019-07-07T04:43:50","slug":"finance-ministry-completes-executive-regs-for-public-contracts-act","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/07\/finance-ministry-completes-executive-regs-for-public-contracts-act\/","title":{"rendered":"Finance Ministry completes executive regs for Public Contracts Act"},"content":{"rendered":"<p><b>LEGISLATION WATCH- The Finance Ministry has completed the executive regulations of the Public Contracts Act <\/b>and will send them to Cabinet for review, <a href=\"https:\/\/www.youm7.com\/story\/2019\/7\/5\/%D8%A7%D9%84%D9%85%D8%A7%D9%84%D9%8A%D8%A9-%D8%AA%D8%B9%D9%84%D9%86-%D8%A7%D9%84%D8%A7%D9%86%D8%AA%D9%87%D8%A7%D8%A1-%D9%85%D9%86-%D8%A7%D9%84%D8%B5%D9%8A%D8%BA%D8%A9-%D8%A7%D9%84%D9%86%D9%87%D8%A7%D8%A6%D9%8A%D8%A9-%D9%84%D9%84%D8%A7%D8%A6%D8%AD%D8%A9-%D9%82%D8%A7%D9%86%D9%88%D9%86-%D8%A7%D9%84%D8%AA%D8%B9%D8%A7%D9%82%D8%AF%D8%A7%D8%AA-%D8%A7%D9%84%D8%B9%D8%A7%D9%85%D8%A9\/4319133\">Youm7 reports<\/a>. The new regulations aim to promote fair competition for government tenders, increase interest, and improve the transparency of the bidding process. The regulations lengthen the payment period for tender participants, and cap the rate of primary insurance at 1.5% of the estimated value of the process. An electronic procurement system, automatically updated to ensure transparency, will also be set up.<\/p>\n<p><b>Background: <\/b>The bill (previously known as the Auctions and Tenders Act), which originally passed the House of Representatives <a href=\"https:\/\/enterprise.press\/stories\/2018\/07\/26\/house-approves-legislation-to-channel-5-15-of-slush-funds-to-state-coffers\/\">last July<\/a>, aims to decentralize and streamline government tenders as well as support SMEs and entrepreneurship. The Finance Ministry said <a href=\"https:\/\/enterprise.press\/stories\/2018\/12\/27\/egypt-smes-to-get-sharper-teeth-to-bid-for-tenders-under-new-legislation\/\">in December<\/a> that SMEs will get priority treatment and a 20% quota of government tenders under the law.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>LEGISLATION WATCH- The Finance Ministry has completed the executive regulations of the Public Contracts Act and will send them to Cabinet for review, Youm7 reports. The new regulations aim to promote fair competition for government tenders, increase interest, and improve the transparency of the bidding process. The regulations lengthen the payment period for tender participants, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[72,180,5430,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-596734","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-legislation","tag-public-contracts-act","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"10307cb9-dacb-4f8b-9bc3-51e2e065918b","is_powered_by":true,"section_story_id":"eecb0797-2ef7-446a-a233-3e10bee7c1bd","story_type":"1","photo_url":"","photo_position":"above","related_issue":[596716],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Finance Ministry completes executive regs for Public Contracts Act - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2019\/07\/07\/finance-ministry-completes-executive-regs-for-public-contracts-act\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Finance Ministry completes executive regs for Public Contracts Act\" \/>\n<meta property=\"og:description\" content=\"LEGISLATION WATCH- The Finance Ministry has completed the executive regulations of the Public Contracts Act and will send them to Cabinet for review, Youm7 reports. The new regulations aim to promote fair competition for government tenders, increase interest, and improve the transparency of the bidding process. The regulations lengthen the payment period for tender participants, [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2019\/07\/07\/finance-ministry-completes-executive-regs-for-public-contracts-act\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2019-07-07T04:43:50+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/07\/07\/finance-ministry-completes-executive-regs-for-public-contracts-act\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/07\/07\/finance-ministry-completes-executive-regs-for-public-contracts-act\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Finance Ministry completes executive regs for Public Contracts Act\",\"datePublished\":\"2019-07-07T04:43:50+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/07\/07\/finance-ministry-completes-executive-regs-for-public-contracts-act\/\"},\"wordCount\":148,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"legislation\",\"Public Contracts Act\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/07\/07\/finance-ministry-completes-executive-regs-for-public-contracts-act\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2019\/07\/07\/finance-ministry-completes-executive-regs-for-public-contracts-act\/\",\"name\":\"Finance Ministry completes executive regs for Public Contracts Act - 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The legislation (previously known as the Auctions and Tenders Act) was approved by the House of Representatives last week after going through a second\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":605289,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/27\/egypt-smes-to-get-sharper-teeth-to-bid-for-tenders-under-new-legislation\/","url_meta":{"origin":596734,"position":1},"title":"Egypt SMEs to get sharper teeth to bid for tenders under new legislation","author":"enterpriseam admin","date":"27 December 2018","format":false,"excerpt":"LEGISLATION WATCH- SMEs to get leg up in public tenders: SMEs will get priority treatment and a 20% quota of government tenders under the anticipated Public Contracts Act, according to a Finance Ministry statement. The new legislation will also exclude SMEs the requirement to submit financial guarantees with their bids\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":592647,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/03\/govt-issues-public-contracts-act-executive-regulations\/","url_meta":{"origin":596734,"position":2},"title":"Gov\u2019t issues Public Contracts Act executive regulations","author":"enterpriseam admin","date":"3 November 2019","format":false,"excerpt":"REGULATION WATCH- Gov\u2019t issues executive regulation for Public Contracts Act: The government has issued the executive regulations of the Public Contracts Act, according to a Finance Ministry statement on Friday. The statement was very light on details, but reiterated previous statements that the regs would set up an e-procurement system\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":652014,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/02\/27\/finance-ministry-will-not-amend-vat-law-to-issue-executive-regulations-in-one-or-two-weeks\/","url_meta":{"origin":596734,"position":3},"title":"Finance Ministry will not amend VAT law, to issue executive regulations in one or two weeks","author":"enterpriseam admin","date":"27 February 2017","format":false,"excerpt":"Finance Ministry won\u2019t amend VAT act: The Finance Ministry will not be revising the law for the value-added tax and we can expect the executive regulations \u201cwithin a week or two at most,\u201d high-ranking officials tell Al Borsa. The ministry plans to study Maglis Al Dowla\u2019s (State Council) proposed amendments\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":652192,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/01\/03\/finance-ministry-amends-law-to-allow-contractors-to-reprice-contracts-every-3-months\/","url_meta":{"origin":596734,"position":4},"title":"Finance Ministry amends law to allow contractors to reprice contracts every 3 months","author":"enterpriseam admin","date":"3 January 2017","format":false,"excerpt":"Good news for government contractors: Finance Minister Amr El Garhy will allow government contractors to revise their pricing in line with movement in the FX rate every three months instead of every six, as was previously the case, Al Mal reports. The minister signed off on the change in amendments\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":605136,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/23\/egypts-cabinet-nods-to-ppp-law-amendments\/","url_meta":{"origin":596734,"position":5},"title":"Egypt\u2019s cabinet nods to PPP law amendments","author":"enterpriseam admin","date":"23 December 2018","format":false,"excerpt":"CABINET WATCH- Cabinet greenlights PPP law amendments: Cabinet approved on Thursday legislative amendments to streamline public-private partnership (PPP) contracts, according to a statement. 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