DOHA: The total value of tenders and auctions issued by the government entities in Qatar reached QR15bn in the third quarter (July to September) of this year. This shows a surge of 123.8 percent in the value of projects compared to the third quarter (Q3) of last year.
The number of awarded tenders, practices, and direct agreement in the third quarter totaled 1,027 representing an increase of 18.7 percent in the number of projects, according to a post by the Ministry of Finance (MoF) on its X platform, yesterday.
The post further stated that the total value of QR9.7bn and QR5.5bn worth of projects were awarded to local and foreign companies respectively. This shows a rise of 115.5 percent in the value of contracts with local companies and 450 percent surge in the value of contracts in case of the foreign companies compared to the same quarter last year.
According to the data by the Ministry of Finance the top four sectors by Sector Activity Index in the third quarter of this year were Transport and Communications, Municipality and Environment, Health, and Energy.
Qatar is actively spending on infrastructure and building projects at present focused on high-quality road networks and state-of-the-art facilities, in addition to numerous big projects in the construction realm attracting tourists and investors.
Meanwhile the total value of tenders and auctions issued by the government entities reached QR11.6bn in the second quarter (Q2) of this year which shows an increase of 111 percent in the value of projects compared to same period in last year when the total value of tenders and auctions was QR5.5bn.
The number of awarded tenders, practices, and direct agreement totaled 791 representing an increase of 21.7 percent in the number of projects.
The total value of QR8.6bn and QR3bn worth of tenders were awarded to local and foreign companies respectively. This shows an increase of 91.11 percent in the value of contracts with local companies and 200 percent jump in the value of contracts with the foreign companies compared to the same quarter last year.
Qatar’s current projects and contracts focus on infrastructure development, particularly in roads and public works, and a major expansion of its energy sector through the North Field East project.
The Third National Development Strategy (NDS-3) focuses on four main sectors that will drive the economic growth and help in diversification in industry, tourism, logistics and transportation, technology and AI sectors.
Qatar’s economy stands as one of the most robust within the region as it gives considerable attention to national economic diversification. The country recognises the importance of balancing its economic policies which aim to create a diversified national economy while strengthening its natural resources.
