Bahrain launches Golden Licence to attract large-scale investment projects
Bahrain has announced the launch of a Golden Licence, providing incentives and streamlined services to foreign and local businesses with large-scale investment projects in the country.
This is an important step in the country’s pursuit to incentivise investments and boost job creation under its fiscal and economic reforms.
move builds upon the growing investment attractiveness of Bahrain, which has recently recorded its highest Real GDP growth rate in almost a decade.
Companies with major investment and strategic projects that will create more than 500 jobs in Bahrain, or those with investment value exceeding $50 million, will be eligible for the licence.
With the licence, companies will enjoy a wide range of privileges and benefits, including prioritised allocation of 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 Bahrain’s Labour Fund, Tamkeen and Bahrain Development Bank.
Introduced by the Cabinet – at its session chaired by His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister, yesterday – the licence aims to attract investments from local and international companies, and create jobs locally.
These are priorities of the Economic Recovery Plan, the blueprint of Bahrain’s fiscal and economic reforms introduced in 2021 that has been the driving force of the country’s recent robust economic performance.
Further advantages under the licence include integrated co-operation with various government departments, a designated account manager from the Economic Development Board, as well as potential review of existing laws or regulations where necessary and applicable.
In light of the International Day of Conscience, the Cabinet emphasised Bahrain’s commitment to consolidating peace and compassion across the world.
The day is marked annually on April 5 and was adopted by the UN in response to the initiative of the late HRH Prince Khalifa bin Salman Al Khalifa.
On World Health Day, the Cabinet commended the kingdom’s health professionals for providing quality services to Bahraini citizens.
