Faroe Islands saves over 6.5 million krona through framework agreements

The Faroe Islands has saved more than 6.5 million krona since 2020 by using framework agreements for public procurement, according to a report by Kringvarp Føroya.

Public institutions are required to use framework agreements when purchasing goods and services. These agreements are managed through the Keypsportalurin procurement portal, which consolidates purchases across multiple entities.

Last year, 71 tenders were published on the portal, a 61% increase from 2024. Additionally, nine framework agreements were established in the same period.