The Qatari Ministry of Finance’s decision to launch a new website to announce all future government tenders is set to improve market transparency in the public procurement process. The website will be officially launched in June 2016 and will provide information on all public procurement and auction-related announcements to interested parties, including bidders, traders, suppliers and firms.

The website will provide further market transparency and stability for businesses that are partaking in the public procurement process as the government will be able to check on any possible riggings and manipulations in biddings.

Interested parties will be able to apply for tenders online – promisingly, SMEs have also been included and, according to the new law, foreign companies implementing national projects are to use local market resource to the value of 30% of the contract.

Qatar is contemplating tough actions against price fixing, bid rigging and other forms of possible collusions in public tenders. The new law stipulates prosecution of officials who act against the country’s competition protection in public procurements, and also for bidders involved in rigging bids or making attempts to influence officials through bribing.

According to Qatar’s Ministry of Finance, the number of public infrastructure development projects will generate billions of riyals of procurement tenders. With one of the most promising project markets and under the pressure of an immovable deadline to be ready for the 2022 FIFA World Cup, the country is currently in the midst of a construction boom.

This move towards a transparent tender market is a positive step for Qatar. With its fast-growing economy the country has become an attractive destination for international companies wanting to stimulate their home markets. Market transparency is critical to ensure sustained economic diversification in line with Qatar’s National Vision 2030.