RNS: Bahrain launched the Golden Licence to encourage investment and employment growth.
The Golden Licence streamlines services and benefits for Bahraini and foreign companies with major investment projects. Bahrain’s most significant real GDP growth rate in over a decade makes this endeavor a sign of its expanding investor appeal.
The Licence is available to Bahraini companies with key projects and investments over 50 million USD or creating more than 500 jobs.
The Golden Licence provides priority land allocation for investments, infrastructural services, utilities, expedited government services like business license and building permit approval, and Tamkeen and Bahrain Development Bank help.
Bahrain’s Cabinet, chaired by Crown Prince and Prime Minister Prince Salman bin Hamad Al Khalifa, initiated this effort to attract local and international investments to create jobs in line with Bahrain’s Economic Recovery Plan.
Companies will work with many government ministries and a Bahrain Economic Development Board account manager under the Licence. If needed, laws and regulations may be reviewed.
The Golden Licence is crucial to Bahrain’s fiscal and economic reforms to attract and incentivise investments that create jobs and boost the country’s economy, especially since 350,000 Indian expatriates live there.