Public procurement refers to the process by which government agencies and public institutions acquire goods, services, and works from private sector companies. This process is essential for ensuring that public funds are spent efficiently and transparently, often following specific regulations and guidelines to promote fairness and competition. The public procurement process typically involves several stages, including planning, bidding, and contract management. Agencies may issue requests for proposals (RFPs) to invite suppliers to submit their offers, ensuring that the selection is based on criteria such as price, quality, and delivery time. This helps to achieve the best value for taxpayers.