Latest news with #localcompanies
Zawya
23-07-2025
- Business
- Zawya
Qatar: Total value of tenders issued by govt entities surge by 111% to $3.18bln
Doha: Qatar's economy stands as one of the most robust within the region as it gives considerable attention to national economic diversification. The country recognises the importance of balancing its economic policies which aim to create a diversified national economy while strengthening its natural resources. The Ministry of Finance posted on its X platform yesterday, the total value of tenders and auctions issued by the government entities reached QR11.6bn in the second quarter (Q2) of this year. This shows a surge of 111 percent in the value of projects compared to same period in last year when the total value of tenders and auctions was QR5.5bn. Meanwhile the number of awarded tenders, practices, and direct agreement totaled 791 representing an increase of 21.7 percent in the number of projects. The post further stated that the total value of QR8.6bn and QR3bn worth of tenders were awarded to local and foreign companies respectively. This shows an increase of 91.11 percent in the value of contracts with local companies and 200 percent jump in the value of contracts with the foreign companies compared to the same quarter last year. In Q2 last year, QR4.5bn tenders were awarded to local companies which represented a decrease in the value of contracts with by 13.5 percent compared to Q2 2023 and QR1bn tenders were awarded to foreign companies, an increase of 67 percent compared to the same quarter of 2023. According to the data by the Ministry of Finance the top four sectors by Sector Activity Index in the second quarter of 2025 were Municipality of environment, health, energy, and transportation and communications. Meanwhile in first quarter of 2025 the total value of government procurement contracts executed through tenders and auctions by public entities during Q1 of this year amounted to approximately QR6.4bn. Contracts awarded to foreign companies totaled around QR1.5bn, marking a 50 percent increase compared to Q1 2024. The top four sectors according to the Business Activity Index during Q1 2025 were municipality and environment, health, energy, and the General Secretariat of the Council of Ministers. Last week, Qatar's general budget was announced by the Ministry of Finance which recorded a deficit of QR0.8bn during Q2 2025 (April, May, and June). The deficit was covered through debt instruments. The total revenues for Q2 2025 stood at approximately QR59.8bn, reflecting a 0.1 percent decrease compared to Q2 2024. These revenues comprised QR34bn in oil and gas revenues and QR25.8bn in non-oil revenues. The total public expenditure during Q2 2025 amounted to roughly QR60.6bn, registering a 5.7 percent increase compared to Q2 2024. The expenditure was allocated as follows: QR18.334bn for salaries and wages, QR21.925bn for current expenditures, QR17.507bn for major capital expenditures, and QR2.838bn for minor capital expenditures. The Third National Development Strategy (NDS-3) focuses on four main sectors that will drive the economic growth and help in diversification in industry, tourism, logistics and transportation, technology and AI sectors. Qatar is actively spending on infrastructure and building projects at present focused on high-quality road networks and state-of-the-art facilities, in addition to numerous big projects in the construction realm attracting tourists and investors. © Dar Al Sharq Press, Printing and Distribution. All Rights Reserved. Provided by SyndiGate Media Inc. (
CTV News
26-06-2025
- Business
- CTV News
Local businesses getting a boost from Economic Development Regina
WATCH: A new program from Economic Development Regina is looking to help local companies expand. Mick Favel explains.
CTV News
26-06-2025
- Business
- CTV News
Economic Development Regina unveils growth program
Regina Watch WATCH: A new program from Economic Development Regina is looking to help local companies expand. Mick Favel explains.
Free Malaysia Today
19-06-2025
- Business
- Free Malaysia Today
Malaysia secures RM4.6bil potential investments at Semicon SEA 2025
Investment, trade and industry minister Tengku Zafrul Aziz said discussions with Singaporean firms opened RM270 million in export potential. (Bernama pic) KUALA LUMPUR : Malaysia has successfully attracted potential investments amounting to RM4.6 billion through its participation in the region's premier platform for the global electronics and semiconductor industry, Semicon Southeast Asia (SEA) 2025, further proving Malaysia's appeal in the eyes of international investors. Investment, trade and industry minister Tengku Zafrul Aziz said the event, described as the 'World Cup' of the microelectronics and semiconductor industry, saw the Malaysian delegation holding strategic meetings with investors in the electrical and electronics (E&E) engineering sector, including major data centre players. In addition to its investment potential, Tengku Zafrul noted that the Malaysia Pavilion also garnered international attention when nine local companies showcased various high-tech products, including testing equipment, system solutions, and innovations in electronic waste management that align with environmental, social, and governance (ESG) principles. 'These companies recorded annual revenue exceeding RM843 million, the majority of which came from exports to international markets. 'During the event, we also attracted buyers from Singapore, Japan, China, and the US, resulting in an export potential of nearly RM237 million,' he said in a video posted on Instagram Reels. In another development, Tengku Zafrul stated that Malaysia has also held discussions with major companies from Singapore in the food and beverage sector, as well as fast-moving consumer goods, to explore opportunities for exporting Malaysian-made halal products to the country. He said the discussions opened the door to additional export potential worth RM270 million. 'This is a golden opportunity for Malaysian producers to penetrate the Singaporean market, with a total potential investment of RM4.6 billion and export potential of RM507 million,' he said.
Reuters
03-06-2025
- Business
- Reuters
Romanian officials reroute flooded stream away from Praid salt mine
BUCHAREST, June 3 (Reuters) - Romanian officials were rerouting a stream in central Romania to prevent further flooding of the Praid salt mine, one of Europe's largest salt reserves and a crucial tourist attraction, after parts of its floor caved in. Authorities evacuated 45 households near the mine areas at risk of collapse after the worst floods in 30 years in the central Romanian county of Harghita have swollen the nearby stream. While part of the mine has been producing salt, with an annual production capacity of around 70,000-100,000 metric tons, its huge galleries and medical centre attract half a million tourists each year. On Monday, the government approved support schemes worth 300 million lei ($67.82 million) for immediate help to the state-owned mine as well as up to 200 local companies that will be affected from the loss of tourism. European experts were also expected on site to assess potential solutions to save the mine. ($1 = 4.4234 lei)
