- 9 November 2021
Lebanon’s disintegrated and obsolete public procurement system has increased corruption over the years decreasing efficiency levels. This has contributed to ranking Lebanon’s public procurement system below average internationally, which reflects negatively on its level of competitiveness and ability to conduct business.
In response to this challenge and amid the country’s economic collapse, the Lebanese Parliament adopted on June 30, 2021, the Public Procurement Law no. 244/2021. This law is an important step in fighting corruption and towards implementing the needed reforms to the public sector based on international standards.
The Public Procurement Law was drafted by the Ministry of Finance, which mandated the Institut des Finances Basil Fuleihan to take lead in this process and was issued in accordance with international guidelines. With an approximate 9-month period till its implementation deadline in August 2022, the Law aims to restore trust with foreign investors and the Lebanese, as well as contribute to economic recovery and development. Yet, due to the increasing loss of technical and financial resources, the law’s implementation process faces several challenges.
In this webinar, a prestigious lineup of speakers will present the role of the law in fighting corruption and the challenges it faces in the political context, as well as the steps needed to ensure proper implementation.