Bahrain Projects, H1 2022 - Outlook of Major Projects in Bahrain - MEED Insights
Economic climate and strategy
The Bahrain government launched a renewed effort to invigorate the local economy October 2021, with a revamped economic strategy that combined spending cuts with plans to raise more non-oil revenue and attract more investment. The aim is to make the economy more competitive and help it to rebound from the Covid-19 crisis. But even before the pandemic, the country had been struggling and some analysts warn that the latest policies are unlikely to deliver the results the government wants.
Some elements of the plan had been flagged up in the preceding weeks, such as the intention to double the VAT rate to 10 per cent and delay the date for balancing the budget until 2024. But some new targets were also included, such as attracting $2.5bn a year in foreign direct investment (FDI) by 2023.
The government plans to make labour market reforms to create 20,000 jobs for locals, simplify issuing business licences and launch a new residency permit programme to attract talent and investors.
It also intends to create new industrial investment areas and wants to see more than $30bn of investment in strategic projects. Six priority sectors have been identified: oil and gas; tourism; logistics; financial services; telecoms, IT and digital economy; and manufacturing. Annual growth of 5 per cent in the non-oil economy from 2022 is also targeted.
Summary
Economic climate and strategy
The Bahrain government launched a renewed effort to invigorate the local economy October 2021, with a revamped economic strategy that combined spending cuts with plans to raise more non-oil revenue and attract more investment. The aim is to make the economy more competitive and help it to rebound from the Covid-19 crisis. But even before the pandemic, the country had been struggling and some analysts warn that the latest policies are unlikely to deliver the results the government wants.
Some elements of the plan had been flagged up in the preceding weeks, such as the intention to double the VAT rate to 10 per cent and delay the date for balancing the budget until 2024. But some new targets were also included, such as attracting $2.5bn a year in foreign direct investment (FDI) by 2023.
The government plans to make labour market reforms to create 20,000 jobs for locals, simplify issuing business licences and launch a new residency permit programme to attract talent and investors.
It also intends to create new industrial investment areas and wants to see more than $30bn of investment in strategic projects. Six priority sectors have been identified: oil and gas; tourism; logistics; financial services; telecoms, IT and digital economy; and manufacturing. Annual growth of 5 per cent in the non-oil economy from 2022 is also targeted.
Reasons to Buy
- Identify new opportunities
- Support business planning and strategy
- Identify challenges to enable you to mitigate and avoid risk
- Gain outlook for contract awards
- Access sector-by-sector breakdown of future project plans
- Preview profile contractor landscape in each sector
- Assess the challenges in Bahrain’s projects market
Table of Contents
- Executive Summary
- Bahrain Country Overview
- Bahrain Projects Market
- Oil and Gas
- Construction
- Transport
- Industrial
- Power and Water
List of Tables
Table 1 Top Projects
Table 2 Biggest planned and un-awarded projects in Bahrain
Table 3 Top Oil and Gas Sector Projects
Table 4 Biggest planned and un-awarded Oil and Gas projects in Bahrain Due in Bidding Stage
Table 5 Biggest planned and un-awarded Oil and Gas projects in Bahrain at Design, FEED or Study Stage
Table 6 Top Construction Sector Projects
Table 7 Biggest planned and un-awarded Construction projects in Bahrain Due in Bidding Stage
Table 8 Biggest planned and un-awarded Construction projects in Bahrain at Design, FEED or Study Stage
Table 9 Top Transport Sector Projects
Table 10 Biggest planned and un-awarded Transport projects in Bahrain Due in Bidding Stage
Table 11 Biggest planned and un-awarded Transport projects in Bahrain at Design, FEED or Study Stage
Table 12 Biggest planned and un-awarded Industrial projects in Bahrain Due in Bidding Stage
Table 13 Biggest planned and un-awarded Industrial projects in Bahrain at Design, FEED or Study Stage
Table 14 Top Power and Water Sector Projects
Table 15 Biggest planned and un-awarded Power and Water projects in Bahrain Due in Bidding Stage
Table 16 Biggest planned and un-awarded Power and Water projects in Bahrain at Design, FEED or Study Stage
List of Figures
Figure 1 Bahrain country map
Figure 2 GDP by sector, Q3 2021 (%)
Figure 3 Bahrain Nominal GDP vs. GDP Growth, 2012-24
Figure 4 Bahrain budget, 2012-22 (BHD bn)
Figure 5 Gulf Projects Index Value of all projects in Bahrain ($m)
Figure 6 Projects market by project status ($m)
Figure 7 Projects market by sector ($m)
Figure 8 Value of contract awards by year ($m)
Figure 9 Value of contract awards by year and sector ($m)
Figure 10 Value of contracts awarded in Bahrain in July to December, 2012-21 ($m)
Figure 11 Number of Contracts Awarded 2012-21
Figure 12 Biggest clients in Bahrain by value of contracts in execution ($m)
Figure 13 Biggest contractors in Bahrain by contracts in execution ($m)
Figure 14 Projects planned but unawarded by status ($m)
Figure 15 Projects planned but unawarded by sector ($m)
Figure 16 Biggest clients in Bahrain by value of contracts planned ($m)
Figure 17 Bahrain contracts award forecast 2022-25 ($m)
Figure 18 Value of Oil and Gas contract awards by year ($m)
Figure 19 Oil and gas projects market by project status ($m)
Figure 20 Oil and gas projects market by subsector (%)
Figure 21 Value of Oil and Gas contract awards by year and subsector ($m)
Figure 22 Biggest Oil and Gas Sector clients in Bahrain by value of contracts in execution ($m)
Figure 23 Biggest Oil and Gas Sector contractors in Bahrain by contracts in execution ($m)
Figure 24 Oil and Gas Projects planned but unawarded by status ($m)
Figure 25 Oil and Gas Sector Projects planned but unawarded by subsector ($m)
Figure 26 Biggest Oil and Gas Sector Future Clients
Figure 27 Value of Construction contract awards by year ($m)
Figure 28 Construction projects market by project status ($m)
Figure 29 Construction projects market by subsector (%)
Figure 30 Value of Construction contract awards by year and subsector ($m)
Figure 31 Biggest Construction Sector clients in Bahrain by value of contracts in execution ($m)
Figure 32 Biggest Construction Sector contractors in Bahrain by contracts in execution ($m)
Figure 33 Construction Projects planned but unawarded by status ($m)
Figure 34 Construction Sector Projects planned but unawarded by subsector ($m)
Figure 35 Biggest Construction Sector Future Clients
Figure 36 Value of Transport contract awards by year ($m)
Figure 37 Transport projects market by project status ($m)
Figure 38 Transport projects market by subsector (%)
Figure 39 Value of Transport contract awards by year and subsector ($m)
Figure 40 Biggest Transport Sector clients in Bahrain by value of contracts in execution ($m)
Figure 41 Biggest Transport Sector contractors in Bahrain by contracts in execution ($m)
Figure 42 Transport Projects planned but unawarded by status ($m)
Figure 43 Transport Sector Projects planned but unawarded by subsector ($m)
Figure 44 Biggest Transport Sector Future Clients
Figure 45 Value of Industrial contract awards by year ($m)
Figure 46 Industrial projects market by project status ($m)
Figure 47 Industrial projects market by subsector (%)
Figure 48 Value of Industrial contract awards by year and subsector ($m)
Figure 49 Industrial Projects planned but unawarded by status ($m)
Figure 50 Industrial Sector Projects planned but unawarded by subsector ($m)
Figure 51 Biggest Industrial Sector Future Clients
Figure 52 Value of Power and Water contract awards by year ($m)
Figure 53 Power and Water projects market by project status ($m)
Figure 54 Power and Water projects market by subsector (%)
Figure 55 Value of Power and Water contract awards by year and subsector ($m)
Figure 56 Biggest Power and Water Sector clients in Bahrain by value of contracts in execution ($m)
Figure 57 Biggest Power and Water Sector contractors in Bahrain by contracts in execution ($m)
Figure 58 Power and Water Projects planned but unawarded by status ($m)
Figure 59 Power and Water Sector Projects planned but unawarded by subsector ($m)
Figure 60 Biggest Power and Water Sector Future Clients
