Abu Dhabi boosts local businesses with $4bn in tenders

Abu Dhabi directed Dhs15bn ($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.

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.