State contracting or public purchasing is a transversal public activity that enables the implementation of tools, programs, policies and projects, ensuring the efficiency and effectiveness of public spending by all State entities.
Recently, the Panamanian State approved Law 153 of May 8, 2020, through which the Law 22 of June 27, 2006, which regulates public procurement and dictates other provisions, was amended. In Law 153 important modifications were incorporated such as the regulation of the times for claims, the guarantee of legal certainty and the prevalence of the common interest in all public contracts.
What is the importance of public procurement? There are several: