Special Report: Malaysia’s annual procurement costs higher than other nations’
(The Edge) – Malaysia spends more on its annual procurement of goods, works and services — which comes to about one-fourth of its nominal GDP — than most other Organisation for Economic Cooperation and Development (OECD) countries whose annual procurements work out to about 12% of their GDP.
In a paper entitled Key failings in the Malaysian public procurement system and how they can be addressed by greater transparency, Prof David Seth Jones said while the government has established an official system of procurement which conforms to a certain extent to international standards, the problems may be caused by inadequate planning and poor drafting.
