The value of tenders issued by Bahrain in the first half of 2021 increased by 60 percent compared to the year earlier period as the kingdom pressed on with major projects following a slowdown forced by the global coronavirus pandemic.
Bahrain awarded $3.4 billion worth of tenders in the first six months of the year as the country progressed with major infrastructure, transport and construction projects, a statement said.
These included 762 non-oil contracts worth $1.6 billion, according to new figures from the Tender Board. Aside from oil, the aviation sector secured the highest value of tenders at $476 million, followed by the construction industry at $413 million.
The kingdom issued 1,070 tenders in the first half of 2021, 297 more than the same period in 2020.
Sheikh Nayef bin Khalid Al Khalifa, chairman of the Tender Board, said the kingdom is pushing ahead with key projects across sectors as the region’s economy begins to reopen.
“Bahrain was the Gulf’s first country to diversify its economy away from oil and the figures for the first half of 2021 show that we are continuing to facilitate that drive. Now that the pandemic is beginning to subside, we can press on with lots of exciting projects across our industries,” he said.
He added: “The kingdom is currently undergoing a $32 billion transformation which is changing the infrastructure, industrial, hospitality and retail sectors through public and private investments. There is a huge opportunity for regional and international companies across sectors to come and capitalise on the increasing value and number of tenders being issued in Bahrain.”
The kingdom recently opened a new airport terminal (pictured above) as part of a $1.1 billion modernisation of Bahrain International Airport, which has increased its capacity from 9 million to 14 million passengers annually.
Meanwhile, the $220 million Bahrain International Exhibition and Convention Centre that is currently under development will offer a major space for conferences and other events.
Bahrain offers 100 percent foreign ownership in several sectors including manufacturing, industrial services, and distribution without any free-zone restrictions.
The country also offers some of the region’s best value operating costs and is up to 45 percent more cost effective than its neighbours.
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