Dimensions | Maximizing Local Benefits in Gulf Procurement
The article focused on strengthening local content through government procurement in Gulf countries, especially Bahrain, with the aim of increasing the value retained within the national economy. Global experiences, such as Australia, the United Kingdom, and Norway, highlight that leveraging government demand to build capacities of local companies leads to long-term growth and competitiveness, rather than just protecting businesses. In Bahrain, programs like "Takamol" and "Local Value Added" are adopted to boost the proportion of spending on local suppliers, along with incentives for small and medium-sized enterprises. The results indicate that higher local procurement rates contribute to job creation and skill development, emphasizing the need to measure the actual value retained within the economy rather than relying solely on contract displacement ratios, in order to achieve sustainable economic empowerment and increased diversification.
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