DUBAI: Bahrain issued $ 1.6 billion in government contracts in the first quarter (Q1) of 2021, an increase of 23% year-on-year, according to new data released by the Bahrain Public Procurement Council – the markets regulator public across the country.
The total number of individual contracts increased 25% year-over-year in the first three months of 2021, with the majority issued as part of Bahrain’s $ 32 billion infrastructure development plans.
The oil sector was the main source in the first quarter, accounting for $ 767 million – or 48 percent – of all contracts. Next come the aviation sector ($ 382 million), the construction and engineering consulting sector ($ 194 million) and the materials and equipment sector ($ 119 million).
“The volume of economic activity, with 25% more tenders awarded in the first quarter of this year compared to last year, demonstrates the strength of the economy and the scale of the opportunity. for companies looking to partner with Bahrain, ”Tender Commission Chairman Shaikh Nayef bin Khalid Al Khalifa said in a press release.
“The improvements made to our electronic tendering system over the past year are only part of a larger digitization effort that is improving efficiency, benefiting the private sector and leveraging take full advantage of Bahrain’s advanced digital infrastructure. ”
An analysis of contracts awarded in 2020 showed that Bahrain’s Ministry of Health reported a 140% year-over-year increase in the total value of tenders, as the country increased spending to combat the spread of coronavirus disease (COVID-19).
Data showed that 1,688 tenders worth $ 4.1 billion were issued in 2020, down 14.58%. Despite the overall decline in the value of awarded bids, the Department of Health awarded 137 bids valued at $ 298.1 million, compared to 93 bids valued at approximately $ 123.8 million in 2019 .
“This increase in spending is attributed to the Kingdom’s robust and rapid response to COVID-19 on many fronts, including a tracking and tracing app, extensive testing, vaccinations, hospital robots, parking lot conversions to hospitals and more, ”the Tender Board said in a statement.