Bahrain contracts value up by 23 per cent

Bahrain awarded $1.6 billion (BD607 million) worth of Government contracts in the first quarter of 2021, according to new data released by Bahrain’s Tender Board – the country’s government procurement regulator.

In total, the value of the awarded tenders grew by 23 per cent from $1.3 billion (BD492 million) in the first quarter of 2020 which reflects the increased economic activity in the Kingdom.

The growth was partly driven by projects linked to Bahrain’s $32 billion infrastructure spend – which includes strategic infrastructure projects such as the multi-billion dollar refinery modernisation project, which is 70 per cent complete and due to finish by the end of 2022.

In terms of value, the oil was the largest sector with $767 million (BD289 million) worth of contracts in Q1 2021, followed by the aviation sector, with contracts valued at $382 million (BD144 million).

While the construction and engineering consultancy sector has generated $194 million (BD73 million) worth of contracts so far this year; with the materials & equipment receiving contracts worth $119 million (BD45 million).

Commenting on the new figures, the Chairman of the Tender Board, Shaikh Nayef Bin Khalid Al Khalifa said, “The volume of economic activity, with 25 per cent more tenders awarded in the first quarter of this year compared to last year, demonstrates the strength of the economy and the size of the opportunity for businesses that are looking to partner with Bahrain.

Improvements made to our e-tendering system over the last year are just part of a wider digitalisation drive that is realising greater efficiencies, benefiting the private sector and taking full advantage of Bahrain’s advanced digital infrastructure.

The number of robust and successful procurement processes that took place in Q1 is a testament to our unique ‘Team Bahrain’ approach that sees the government and the private sector work hand in hand to deliver strong results across the board.”