Experts during a recent event underscored the need for capacity building of women entrepreneurs to increase their participation in public procurement.
Particular emphasis was laid on making them aware of the process to participate in bidding for tenders.
The discussion “Public Procurement and the e-GP system” was hosted by Business Initiative Leading Development (BUILD) on May 26.
The government procures a large number of goods, work and services every year through public tenders where the participation of women-owned businesses is very insignificant, the experts said.
In Bangladesh, about 45 percent of the budget is spent on public procurement and the participation of micro, small, and medium enterprises is very insignificant here, said Md Faruque Hossain, former secretary to the government and procurement policy consultant at the World Bank.
It is to be noted that the Industries Ministry is looking to the enactment of the Subcontracting Act 2022, which would ensure open tender and an earmarked amount for the cottage, micro, small, and medium enterprises.
Ferdaus Ara Begum, CEO of BUILD, said some countries simplified public procurement rules and policies to increase the participation of women entrepreneurs.
In Chile, women’s participation has increased by 36.5 percent with the simplification of policies where women-owned businesses can be hired directly for procurement under $600.
A similar threshold can also be announced in Bangladesh, Ferdaus Ara said.
Source: United News of Bangladesh