Thursday, 01 December 2022 17:49

Special Law for Public Works Contracting with Inclusive Financing is being created

Written by Evelyn Alas

The Treasury Commission issued a favorable opinion for the creation of the Special Law for the Contracting of Public Works with Inclusive Financing, in order to establish special conditions for the awarding and execution of projects in which costs are contemplated in their design, construction, supervision and, in some cases, operation and maintenance.

The legislators explained that the regulation will allow the implementation in the country of a novel process for the acquisition and awarding of construction projects.

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They said that the Law will make it possible for national or foreign financial entities, private corporations or contractors to make offers to finance and execute this type of construction.

The contracting modality with financing included seeks to promote an orderly and sustained growth of the economy, create new sources of work and development to increase the national patrimony and ensure the welfare of the population, through the execution of necessary and innovative works.

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The bill establishes that the evaluation procedure will be in charge of a multidisciplinary technical commission created and appointed by the highest authority of the Ministry of Public Works.

In addition, the Ministry of Finance will be in charge of analyzing the financing offers made by the participants in order to safeguard the interests of the State.

Qué hacer si es vecino de una construcción?

Among the types of works that could be contracted under this figure are: bridges, roads, ports, airports, dams, water supply, drainage and railroad networks.

It also includes industrial engineering works such as supplies, assembly and electrical, mechanical, communications and electromechanical installations, industrial and treatment plants, industrial engines and machinery, generating stations, transformers, transmission and distribution lines.

Translated by: A.M