Abu Dhabi Boosts Local Businesses With $4 Billion in Tenders
Abu Dhabi directed 15 billion dirhams ($4.1 billion) 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” program 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.
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 U.A.E. Purchasing Managers’ Index, a gauge tracking operating conditions in the non-oil private sector, fell to the lowest ever in March.
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.
©2020 Bloomberg L.P.