Faroese public procurement portal saves government millions

The Faroese government’s centralised procurement portal saved public institutions around 6.5 million krona in 2025, according to the national treasury’s annual report.

The report, published by Gjaldstovan (the Faroese Treasury), states that the number of public tenders increased by 61 percent last year. Standardising procurement processes through the Keyps Landsins portal has led to cost savings, stronger market competition, and fairer bidding opportunities for all suppliers, while ensuring transparency in government purchases.

A record number of tenders were issued in 2025, with more public agencies putting contracts out to bid. The treasury concludes that the system has proven effective in streamlining government operations and fostering competition.