The Inter-American Development Bank (IDB) has organized a free “procurement fair” for businesses to meet with government ministries overseeing projects funded by the bank in order to ensure they do not miss the opportunities.
The procurement fair, which will be held at Baha Mar’s convention center on Friday at 4 p.m., will introduce business owners to the government ministries that have contracts out for bid on projects ranging from strengthening coastal areas to airport infrastructure projects.
“While the procurement fair will feature government ministries, the IDB will highlight its significant $292 million portfolio of approved loans for projects with the government of The Bahamas,” according to a press release from the IDB.
IDB Country Office Representative Daniela Carrera Marquis said in the release that the IDB hopes to attract more small and medium-sized businesses as well as individual contractors to work on “important projects”.
“It is imperative that they get sound information to help them better compete for contracts on significant projects meant to move The Bahamas forward in meeting its future goals,” Marquis said.
“Our mission is simply to introduce the joint work of the IDB and the government, while educating and guiding business owners through the competitive bidding process.”
According to the release, the Ministry of Public Works and Transport, Ministry of Finance, Ministry of National Security and the Ministry of Labour and National Insurance, all have contract work available that business owners can take advantage of.
“With extensive procurement procedures in place, the IDB consistently works to reinforce impartiality, competitiveness, quality and value for money when awarding contracts,” the release noted.
“Its country strategy places priority on three core areas including ‘fostering an enabling environment for private sector competitiveness’.
“The IDB looks forward to partnering with the government of The Bahamas on future projects in order to provide additional opportunities for local private sector businesses and consultants.”
While the event is free, the IDB is asking that business owners register for the procurement fair via email address IDBBahamasEvents@iadb.org.