Coronavirus: Abu Dhabi Announces $4.1bn Tenders For Local Businesses
Abu Dhabi Local Content programme includes 1,244 tenders, aimed at boosting productivity and strengthening supply chains
IHS Markit’s UAE Purchasing Managers’ Index, a gauge tracking operating conditions in the non-oil private sector, fell to the lowest ever in March.
Abu Dhabi has directed AED15 billion ($4.1bn) worth of government tenders to local businesses as the coronavirus pandemic weighs on the Gulf Arab emirate’s non-oil economy.
The Abu Dhabi Local Content programme includes 1,244 tenders, “with the goal of “boosting productivity and strengthening supply chains”, the Abu Dhabi Media Office said in a tweet on Wednesday.
.@AbuDhabiDED applies procurement-driven localisation programme ‘Abu Dhabi Local Content’ to 1,244 government tenders worth a total of AED15 billion, unlocking growth opportunities for the private sector to take part in #AbuDhabi government investments. pic.twitter.com/g10JOyB6co— مكتب أبوظبي الإعلامي (@admediaoffice) April 8, 2020
Business conditions in the United Arab Emirates, a federation that includes Abu Dhabi, worsened at a record pace in March as the government took emergency steps to stop the spread of the coronavirus.
IHS Markit’s UAE Purchasing Managers’ Index, a gauge tracking operating conditions in the non-oil private sector, fell to the lowest ever in March.
Earlier this week, the UAE Central Bank announced a targeted economic support scheme’ of $70bn to support the economy amid the coronavirus pandemic - double what it announced the previous month.
The country has reported 2,359 cases of coronavirus and 12 deaths. Its business hub Dubai has imposed a 24-hour restriction on the movement of people.
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