Overview of the 2024 GPPM Result Report
The 2024 GPPM (Global Public Procurement Market) result report provides a one-page summary of the annual performance of the KOTRA Dhaka Trade Center's public procurement hub in 2024. The public procurement hub is a dedicated platform that supports Korean companies in winning projects in Bangladesh's government procurement market through tender intelligence, buyer matching, technical specification reviews, and local network development.
In 2024, Bangladesh's public procurement market temporarily slowed in the second half of the year due to political changes, including the August change in government. However, large-scale power and transport infrastructure projects backed by ADB and the World Bank continued to move forward, allowing Korean companies to maintain order performance broadly in line with the previous year. Against an annual support target of $200M, the hub delivered $185M, reaching 92.5% of target.
Quarterly Performance Breakdown
Performance in 2024 varied clearly by quarter. The first quarter recorded the strongest order results thanks to contract conversions from the prior year's pipeline. In the second quarter, tender intelligence collection remained active despite procurement deceleration during Ramadan. The third quarter saw a sharp drop in new tenders following the August political transition, but the fourth quarter showed recovery as procurement activity resumed under the interim administration.
| Item | Q1 | Q2 | Q3 | Q4 | Annual Total |
|---|---|---|---|---|---|
| Order Support ($M) | 65 | 48 | 28 | 44 | 185 |
| Tender Leads | 95 | 88 | 62 | 97 | 342 |
| Buyer Matching | 22 | 18 | 10 | 17 | 67 |
| Confirmed Awards | 5 | 3 | 1 | 3 | 12 |
| Local Meetings | 48 | 42 | 25 | 41 | 156 |
| Market Reports | 6 | 6 | 6 | 6 | 24 |
Major Contracting Outcomes
Of the 12 confirmed awards in 2024, the power and energy segment accounted for seven contracts worth $128M, representing 69% of the total. The largest awards were the BPDB gas turbine package at $45M and the PGCB transformer package at $32M, while solar module exports worth $43M emerged as a new growth area. Transport and construction generated five contracts worth $57M, led by bridge bearings for RHD and railway signaling systems. Although only one award was confirmed in the third quarter due to the political transition, the fourth-quarter recovery allowed the hub to finish the year at 92.5% of target.
2025 Outlook and Action Plan
The 2024 GPPM result report offers a consolidated assessment of support activities for Korean companies pursuing public procurement opportunities in Bangladesh. Despite the external shock of the political transition, the hub still achieved 92.5% of its target thanks to a stable pipeline in power and energy and the continued execution of projects financed by ADB and the World Bank. In 2025, the program plans to add digital and green energy segments and expand its order target to $220M, further strengthening Korean companies' access to Bangladesh's public procurement market.