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Bahrain officials reject $1.6bn payout criticism

Manama, February 5, 2014

Top government officials have rejected criticism after Bahrain allegedly paid out BD600 million ($1.6 billion) to foreign owned companies last year.

Some MPs have alleged firms from countries such as the UK and US were given priority over local businesses, said a report in the Gulf Daily News (GDN), our sister publication.

The deadlocked vote on amendments to the Tender Board's set-up law was decided by parliament first vice-chairman Abdulla Al Dossary.

But Housing Minister Bassem Al Hamer, who is the Tender Board chairman, said the accusations did not reflect the entire picture.

"We need those international companies here in Bahrain and without their input in the economy, we would have seen many sectors stall," he said.

"MPs should check their facts about BD600 million leaving the country because their services and products don't exist in Bahrain and for that we are obliged to seek them from elsewhere, like in the field of petroleum technologies."

Tender Board secretary-general Abdulaziz Al Qassab said most of the international companies operating in Bahrain were of crucial importance.

"Some international companies don't pay registration fees or penalties in a number of cases because we are keen to bring them to Bahrain and keep them to move forward development projects," he said.

He strongly rejected a proposal to force international companies to register as Bahraini establishments before being allowed to bid for projects, which has been sent to the Shura Council for review. - TradeArabia News Service




Tags: Bahrain | foreign | Payout | Criticism | Officials |

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