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An increasing number of infrastructure, transport, and construction projects in Bahrain has spurred the value of tenders issued by the kingdom by 60 percent in the first half of 2021 compared to the same time last year.
Bahrain awarded $3.4 billion worth of tenders in the first six months of the year, including 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.
Shaikh Nayef bin Khalid Al Khalifa, Chairman of the Tender Board, said: “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.”
“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 added.
The recently opened a new airport terminal as part of a $1.1 billion modernisation of Bahrain International Airport has handled more than 920,210 passengers and 9,176 flights since it opened in January.
Bahrain offers 100 percent foreign ownership in several sectors including manufacturing, industrial services, and distribution without any free-zone restrictions.
(Writing by Seban Scaria ; editing by Daniel Luiz)
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© ZAWYA 2021
