A growing trend of declining participation by companies in public project tenders has sparked concerns among business leaders in Cyprus.
The dwindling number of contenders is seen as detrimental to fostering healthy competition in the public sector.
Constantinos Constantinou, President of the Cyprus Chamber of Commerce and Industry (CCCI), highlighted the issue, noting that even projects valued at 20-30 million euros are receiving only 2-3 bids, indicating a lack of competitive spirit.
In response, industry professionals are calling for a comprehensive modernization and overhaul of the tendering and contracting processes for public projects.
Stelios Gabriel, President of the Cyprus Building Contractors Association (CCA), emphasized the need for updated terms and conditions to reflect current industry standards and practices.
During discussions on RIK’s Third Channel, both Constantinou and Gabriel underscored the urgency of addressing delays and inefficiencies in tendering and project implementation.
Constantinou specifically called for the incorporation of modern dispute resolution methods into public contracts, stressing the importance of swift action to align Cyprus with European standards in this regard.
Gabriel echoed these sentiments, advocating for the adoption of best practices from the private sector, where contracts have been updated to anticipate and mitigate potential challenges.
The push for reform comes amidst concerns that the current system is hindering progress and development in public infrastructure projects.
Delays and disputes, if not resolved efficiently, could further exacerbate social and economic challenges for Cyprus.
Efforts to modernize and streamline public project procedures are gaining traction, with calls for high-level meetings involving key stakeholders to address systemic issues and drive meaningful change.
