This growth rate represents the current activity in the public sector projects, which evidences the government sustainability of investment policy aimed at improving public utilities, developing infrastructures for significant sectors: services, electricity, water, oil and gas, healthcare, housing, roads and bridges, aviation and research fields which constitute a pivotal aspect of socio-economic progress in the Kingdom of Bahrain.
Al-Hammer added, in his foreword to the Tender Board’s Annual Report 2011 that when a comparison was done between actual cost of tenders and estimated costs, it turned out the difference in 2011 reached BD70.7 million that is an increase of 263% from that recorded for the year 2003. The total difference since the inception of the Tender Board reached BD609.1 million which reflects the role of the tender board in supporting the government in order to achieve higher standards of economic efficacy.
The tender board stands at equal distance from all suppliers, contractors and bidders without any exceptions which helped the government woe overseas investments and boost investors trust and confidence in Bahrain’s economy.
The report revealed that the tender board convened 49 weekly meetings in order to check correspondence and promptly take the necessary action regarding bids. During these weekly meetings, the tender board unanimously passes resolutions regarding all incoming correspondence from suppliers, contractors and authorities in order to ensure reaching proper decisions fairly and justly.
The report pointed out that 1,769 projects were awarded in 2011 which brought the total number of projects awarded during nine years since the inception of the tender board (2003/2011) to 15,372 projects.
In the year 2011, the total value of projects awarded reached BD 1.187 billion. The total value of projects awarded in the period 2003-2011 reached BD8.038 billion.
The total increase in the number of projects awarded reached 155% increase compared with that of the year 2003 which indicates an increase in government expenditures in public projects over the past nine years.
Most projects awarded, according to the report, served electricity and water, oil and gas, roads and bridges, consultation, aviation infrastructures, housing, aviation, Mina Salman Seaport, public healthcare IT system updating.