The Law on Modifications and Amendments of Law on Public Procurement August 10, 2015 The Law on Modifications and Amendments of the Law on Public Procurement was adopted on July 31, 2015 by the National Assembly of the Republic of Serbia. The Law on Modifications and Amendments of the Law on Public Procurement is adopted based on Strategy on Development of Public Procurement in the Republic of Serbia for the period from 2014-2018 and Plan on implementation of Strategy on Development of Public Procurement in the Republic of Serbia for 2014-2015. Primarily, application of this Law will increase efficiency of the procedure of public procurement or intensity of the competition, and new solutions of the Law will eliminate the issues noticed in the previous practice, which will enable providing prerequisites for the uninterrupted progress of the purchasers’ work process. Modifications and amendments provided by this Law will lead toward four key strategic objectives provided by Strategy on Development of Public Procurement in the Republic of Serbia adopted on October, 2014 by the Government of the Republic of Serbia, as follows: • construction and development of the unique system of public procurement in the Republic of Serbia; • strengthening of the competition in the public procurement market; • reducing the irregularities in the public procurement system; • increasing the efficiency and cost effectiveness of the public procurement Modifications and Amendments of the Law on Public Procurement will lead toward the complete transparency of the public procurement procedure, particularly by introducing the measures which will lead to the publishing of the public procurement plans on the Portal of the public procurement by the purchaser, and publishing of the Decision on contract awarding (Decision on suspension of the procedure), which will have affect on both transparency and efficiency of the procedure. By increasing the limit for the public procurements of small value, the Law will accomplish the objective of increasing the efficiency of the public procurement procedure. Namely, the public procurement procedure will be absolutely transparent, and deadlines for acting will be shorter. Solutions provided by this Law will have positive effects on all purchasers, and also on all commercial entities participating in the public procurement procedures, as well as on all subjects who have interest in concluding the Public Procurement Agreement. All subjects in the public procurement system will have facilitated treatment, purchasers will have favorable conditions for acquiring goods, services and work procurement, and in the same time, to subjects participating as bidders a higher degree of competition will be provided.