The year 2020 marked the beginning of a new decade with a host of possibilities for the advancement of technology and innovation in next ten years. In terms of procurement, this year has defined types of contracts governments need, how governments request proposals for bids, and the process for awarding contracts. This year has ushered in many different policy changes regarding procurement practices.
Many countries have looked into using blockchain technology to eliminate corruption and create a database of awarded contracts. In addition to that, the United States has revisited legislation, such as the Civil False Claims Act, to prevent fraud which has recovered over 3 billion dollars lost to corruption. Governments are also beginning to create better systems for choosing more responsible contractors. The US Department of Justice formed the Procurement Collusion Strick Force this year to investigateallegations of bid rigging, price fixing, and market allocation in public procurement across the country.
Outside of US domestic policies, foreign investments into companies have been contested and discouraged by the government. The current administration cites burgeoning national security threats and expanded the jurisdiction of The Committee on Foreign Investment. According to lawyers at Mondaq, “the CFIUS can now review non-controlling foreign investments in US businesses if those businesses are involved in certain critical technologies or critical infrastructure, or have access to the personal data of US nationals,” and “ now has jurisdiction to review certain real estate transactions, including undeveloped land, which were previously exempt from review as “greenfield” investments”.
Procurement has also been greatly affected by the elephant in everyone’s living room, COVID-19. The novel coronavirus has altered proposal and bid priorities. Governments are in need of a vaccine and medical supplies and those contracts take precedent over anything else. This is detrimental to contractors who specialize in non-prioritized fields but also creates new opportunities.
About the Author
Jessica Davis is a student at The University of Georgia majoring in International Affairs and Political Science, graduating in May of 2021. Within her university community, she serves as a member of the Arch Society, University Judiciary and a Campus Tour Leader at the UGA Visitor’s Center. Jessica has worked with the Georgia Public Defender Council, the Partnership Against Domestic Violence, and the Women’s Public Leadership Network. She is from Riverdale, Georgia and her interests include criminal justice reform, international diplomacy, and environmental policy reform.