More chances for ICT SMEs to snag government contracts in FY2020
GovTech estimates a 30% increase in government ICT expenditure to S$3.5b; about 80% of the potential procurement opportunities this year will be available to SMEs.
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THE Singapore government's plan to increase spending on information and communication technology (ICT) and make more use of bulk tenders and dynamic contracting is welcome news to small and medium-sized enterprises (SMEs) in the sector, especially as the virus outbreak dampens private sector demand.
The Government Technology Agency (GovTech) announced these plans last Monday, estimating a 30 per cent increase in government ICT expenditure to S$3.5 billion in FY2020, up from FY2019's projected spend of S$2.7 billion.
About 80 per cent of the potential procurement opportunities this year will be available to SMEs; they can bid for government contracts with a value of less than or equivalent to S$5 million. This is the same percentage of opportunities available to SMEs last year, and they eventually secured 70 per cent of the total opportunities, valued at about S$550 million.
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