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COMESA launches 9 mln dollars project to minimize corruption, cost
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07:43, July 19, 2007 |
The Common Market for Eastern and Southern Africa (COMESA) launched here Wednesday a four-year project called enhancing procurement reforms and capacity project (EPRCP) worth 9 million U.S. dollars.
Launching the project, Finance and National Planning Deputy Minister Jonas Shakafuswa said effective public procurement in the COMESA region would help harmonize its procedures that could enhance direct foreign investment.
Shakafuswa said sound public procurement systems in the region would help minimize corruption and cost of production, thereby promoting economic growth among COMESA countries.
He said over 60 percent of governments' national budgets are used up in public procurement, which he said should therefore be transparent.
COMESA Secretary General Erastus Mwencha said public procurement is at the center of governments' efforts to promote socioeconomic development in the region.
Mwencha said in a speech read on his behalf by COMESA Director of Legal and Institutional Affairs Stephen Karangizi that well- managed procurement systems are key in the attainment of millennium development goals, to which the member states have committed themselves.
He said efficient procurement systems would further help the region mitigate various economic and social challenges the region was facing.
Source: Xinhua
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