Manama, April 5 (BNA): The Executive Chairman of the Economic Development Board, Khaled Ibrahim Humaidan, praised the Council of Ministers’ approval to launch the golden license for strategic investment projects, in line with the directives of His Royal Highness, Prince. Salman bin Hamad Al Khalifa, Crown Prince, Prime Minister and Chairman of the Economic Development Board.
The initiative aims to stimulate investments in Bahrain and enhance the creation of job opportunities for citizens within the framework of its financial and economic reforms.
Humaidan indicated in a statement that the step reflects the Kingdom’s keenness to develop its economy and encourage local and foreign investments, adding that it highlights the strategic work being carried out by the Bahrain team.
He stressed the importance of encouraging investments, especially large investments, because of their role in consolidating economic foundations, such as creating job opportunities in the Kingdom, and paving the way for companies to benefit from the competencies of the educated and skilled country.
The Chairman of the Economic Development Board stressed that Bahrain welcomes all high-return investments, especially local investments, which are considered the backbone of the economy, indicating that the Economic Development Board pays special attention to supporting existing companies and encouraging them to increase their investments and develop their expansion programs. their business in the Kingdom, and benefit from the long-standing supportive business environment.
Regarding the support provided to local and international investment companies, Humaidan said that the essence of the work of the Bahrain team revolves around supporting these investments and providing them with the facilities that have earned the Kingdom the confidence of companies and investors from all over the world.
The CEO of the Economic Development Board affirmed that the Kingdom has always been keen to diversify its economy to achieve the goals of the economic recovery plan, the most important of which is attracting and encouraging investments to contribute to the development of the economy and the creation of job opportunities.
It is worth noting that the Council of Ministers announced, during this week’s regular meeting, chaired by His Highness the Crown Prince and Prime Minister, that companies with major investment and strategic projects will create more than 500 job opportunities in Bahrain, or those whose investments value exceeds the US dollar. 50 million, will be eligible for the license.
Eligible companies will enjoy a wide range of privileges and benefits, including the allocation of priority land for investments, infrastructure services and utilities.
They will also have streamlined access to government services – including business licensing and building permit approval, as well as support from the Bahrain Labor Fund, Tamkeen and the Bahrain Development Bank.
Other benefits under the Gold license include integrated collaboration with various government departments, a dedicated account manager from the Bahrain Economic Development Board, as well as potential review of existing laws or regulations where necessary and applicable.
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