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Dubai, UAE, 9th February 2016: The Qatari Ministry of Finance's decision to launch a new website to announce all future government tenders is set to improve market transparency in the public procurement process, according to Links Group, one of Qatar's leading providers of commercial facilitation and advisory services.
The website will be officially launched in June 2016 and will provide information on all public procurement and auction-related announcements to interested parties, including bidders, traders, suppliers and firms.
Commenting on the Ministry of Finance's plans John Martin St. Valery, founding partner of Links Group said: "The new website will provide further market transparency and stability for businesses that are partaking in the public procurement process as the government will be able to check on any possible riggings and manipulations in biddings.
"Interested parties will be able to apply for tenders online to help with applications with technical specifications including links between websites, the government regulator and other public entities. Promisingly, SMEs have also been included and according to the new law, foreign companies implementing national projects are to use local market resource to the value of 30% of the contract.
"Qatar is contemplating tough actions against price fixing, bid rigging and other forms of possible collusions in public tenders. The new law stipulates prosecution of officials who act against the country's competition protection in public procurements, and also for bidders involved in rigging bids or making attempts to influence officials through bribing.
"According to Qatar's Ministry of Finance, the number of public infrastructure development projects will generate billions of riyals of procurement tenders. With one of the most promising project markets and under the pressure of an immovable deadline to be ready for the 2022 FIFA World Cup, the country is currently in the midst of a construction boom.
"This move towards a transparent tender market is a positive step for Qatar. With its fast-growing economy the country has become an attractive destination for international companies wanting to stimulate their home markets. Market transparency is critical to ensure sustained economic diversification in line with Qatar's National Vision 2030."
Press Contacts
Marianna Wisden
Mojo PR
Tel : +971 55 552 7758
marianna@mojo-me.com
About Links Group
Established in 2002, Links Group partners, protects & enables foreign companies to enter and exit the UAE and Qatar markets while protecting their status as business owners. It advises corporations and individuals on how best to structure a legal commercial presence in the Middle East that protects their ownership interests and affords clear succession planning.
Links Group is the first company of its kind to be endorsed by the Government of Dubai through a strategic alliance with the Foreign Investment Office (FDI) of the Dubai Economic Department and provides an unrivalled portfolio of corporate services including nominee local partnerships, corporate administration and government liaison support. The Links Group difference is that foreign companies work with a highly structured board as their local partner as opposed to an unknown individual. This structure provides foreign businesses with a corporate entity to act as their nominee, local partner, shareholder or sponsor, thereby minimising the risks associated with appointing an unknown individual nominee and satisfying corporate governance requirements.
Links Group has an untarnished track record with 300 clients, who represent combined annual revenues of over USD 5bn to their respective economies.
Links Group is also recognised as a Dubai SME 100 company, a ranking of the top performing SMEs in the emirate, and an Arabian 500 company.
© Press Release 2016
