Prospects & challenges of sustainable procurement in Bangladesh Hi-Tech Park Authority

Abstract

Public procurement is one of the government activities where most of the expense occur. Public institutions as well as state-owned enterprises need to procure goods, services and works to carry out their responsibilities and duties. The total volume of public procurement, which is the government activity of purchasing goods, services and works, accounted for 12% of GDP and 29% of general government expenditure in OECD countries amounting to EUR 4.2 trillion in 2013. The share of public procurement at the subnational level represents 63% of the general government procurement in OECD countries. From the above data it is clear that most environment risk prone area of public activity is the public procurement. Sustainable procurement can reduce risk of environment and make our sustainable environment. Sustainable procurement refers to the process of purchasing goods, works, and services in a way that considers the social, environmental, and economic impact of the procurement activities, in addition to cost and quality. It involves taking into account the full life cycle of the products and services being procured, including the sourcing of raw materials, production, distribution, use, and disposal. The goal of sustainable procurement is to minimize negative impacts and maximize positive outcomes, such as reducing waste and emissions, promoting fair labor practices, and supporting local economies. Bangladesh Hi-Tech Park Authority is a one of the government own organization. The organization build hi-tech related economic zones for the IT/ITES industry. The report on the Prospect & Challenge of Sustainable Procurement in Bangladesh Hi-Tech Park Authority highlights the potential benefits and challenges of implementing sustainable procurement practices in the Hi-Tech Park Authority. The report shows that sustainable procurement can result in cost savings, improved supplier relations, and increased competitiveness. However, the implementation of sustainable procurement practices also faces challenges such as a lack of awareness and limited capacity among suppliers, as well as regulatory and cultural barriers. The report recommends that the Hi-Tech Park Authority take steps to raise awareness and build capacity among suppliers, as well as engage in collaboration and dialogue with relevant stakeholders to overcome the challenges and fully realize the benefits of sustainable procurement.