No taxes on new personal items worth less than SR3,000, says Saudi Customs
World News

No taxes on new personal items worth less than SR3,000, says Saudi Customs

DUBAI: Bahrain’s Ministry of Health reported a 140 percent year-on-year increase in the total value of tenders awarded last year, as the country ramped up its expenditure to combat the spread of COVID-19.

According to figures released on Wednesday by Bahrain’s Tender Board — the country’s government procurement regulator — 1,688 tenders worth $4.1 billion were issued last year. This compares to a total value of $4.8 billion in 2019, a year-on-year drop of 14.58 percent.

Despite the overall drop in the value of tenders awarded, the ministry awarded 137 tenders valued at $298.1 million, compared to 93 tenders valued at some $123.8 million in 2019.

“This surge in spending is attributed to the Kingdom’s robust and rapid COVID-19 response in many fronts, including a track and trace app, extensive testing, vaccinations, hospital robots, car park conversions to hospitals and more,” the Tender Board said in a statement.

Gulf Daily News reported that Bahrain registered 682 new COVID-19 cases on Tuesday, bringing the total number to 131,683.

It has also carried out 3,321,242 tests. The death of a 50-year-old expat brought the number of deaths to 485.

Analysis of the tenders issued last year showed that the oil and gas sector dominated with 228 tenders worth $1.6 billion, followed by the construction and engineering industry (317 tenders worth $875.7 million).

While the total value of tenders issued within the services sector amounted to $424.8 million, it dominated in terms of the number of contracts, with 599 tenders.

Shaikh Nayef bin Khalid Al-Khalifa, chairman of the Tender Board, said 2020 “has proven one of the most challenging and unpredictable years globally for businesses in all sectors across the board. Despite these less-than-friendly conditions, throughout the year Bahrain awarded an impressive 1,688 contracts valued at well over $4 billion.”

Bahrain’s “extensive, multibillion-dollar pipeline of infrastructure projects is a case in point, and has driven the consistently high value of contracts in our thriving construction and engineering sector throughout the year,” he added.

Read More

What's your reaction?

In Love
Not Sure

You may also like

More in:World News

Leave a reply

Your email address will not be published. Required fields are marked *