BSP opens procurement process to more suppliers
Participants in the Bangko Sentral ng Pilipinas’ Immersive Procurement Learning Session take part in simulation exercises and hands-on workshops on bid preparation, compliance requirements and key stages of the procurement process.
Photograph courtesy of BSP
The Bangko Sentral ng Pilipinas (BSP) has enhanced its annual procurement forum to give existing and prospective suppliers a closer look at its bidding process and encourage wider participation.
The central bank held the Immersive Procurement Learning Session (IPLS) on 22 and 23 July 2026, drawing more than 170 participants for simulation exercises aimed at deepening their understanding of competitive bidding procedures and compliance requirements.
BSP Deputy Governor Elmore O. Capule said the initiative seeks to promote fairness and broader participation in the central bank’s procurement activities.
“By giving suppliers a clearer understanding of how our processes work, we promote fairness, encourage wider participation, and help ensure that resources are spent responsibly and effectively,” Capule said.
The IPLS is an enhanced version of the BSP’s annual Procurement Opportunities Fair, which has been conducted since 2016.
Participants received hands-on guidance on bid preparation, compliance standards and evaluation procedures. They were also briefed on the BSP’s indicative procurement requirements for 2027, including goods and services that the central bank may acquire.