The Ministry strives to enhance and harmonize the public procurement system to be economically efficient, transparent and accountable.
The core principles of the public procurement are to:
Induce integrity and accountability within all government agencies;
Work towards economic efficiency;
Provide a competitive and fair market for tenderers
The public procurement mechanism of the Republic of Maldives is regulated by the Chapter 10- Public Procurement Mechanism, of the Public Financial Regulation 2017/ R-20. National Tender under Ministry of Finance and Treasury is mandated to regulate and administer the entire public procurement function of the nation.
National Tender, which acts as the secretariat body of the National Tender Board, is mandated to regulate and administer the whole public procurement function of the nation. Main purpose of the function is to formulate a fair, equitable, transparent, competitive and cost effective policies, procedures and processes for the procurement of goods and services, works, consultancy services and induce accountability through all the government agencies and harmonize the procurement function of Maldives. National Tender undertakes all procurements above MVR 2.5 million.
National Tender Board
National Tender Board was incorporated on 10th July 1990 by Presidents Office with the authority to assess and approve the procurements undertaken through the national procurement function established under Ministry of Finance and Treasury, which are above MVR 2.5million. Utmost aim of appointing a National Tender Board is to assure the national level procurements are executed fairly, equitably, transparently, competitively and cost effectively.