Simplifying Government Bidding
Singapore will launch Tender Lite in April 2024 to help SMEs access government tenders more easily. Second Minister for Finance Chee Hong Tat announced this on Feb 28.
Tender Lite covers tenders up to S$1 million, complementing existing quotation methods. Together, these will cover 90% of government contracts.
Changes based on industry feedback include:
Simpler contracts, cutting conditions by 20%.
No security deposits or liquidated damages by default, reducing costs.
Chee said these changes level the playing field, making it easier for small businesses to win contracts. SMEs receive 40% of Singapore’s government procurement—higher than Australia (20%) and China (30%).
Other improvements include:
GeBIZ supplier file repository, allowing one-time document uploads.
eGuarantee@Gov, expanding in 2024 to reduce transaction costs.
One-stop payroll system, simplifying tax and employment filings.
