The Kingdom of Bahrain has announced the launch of the “golden license” for strategic projects as part of its efforts to attract large scale investment from across the world.
The Bahraini Cabinet approved the golden license to enhance the investment environment in the Kingdom, enter into new partnerships and create promising opportunities for its citizens.
Companies located inside and outside of Bahrain creating over 500 jobs, thus contributing to job opportunities for the people of the country, or whose investment value exceeds 50 million USD in the first years of their work in the Kingdom are eligible for the golden license.
Among the advantages that will be granted to holders of the golden license is priority in allocating land, infrastructure and services. Benefits of the license also include a streamlined access to government services, as well as support from the Labor Fund, Tamkeen and Bahrain Development Bank. Companies will also be assigned an account manager from Bahrain’s Economic Development Board to help throughout the company’s set up process.
The project aims to increase the competitiveness of Bahrain as a suitable destination for investment. This initiative is within the framework of Bahrain’s economic recovery plan, launched in October 2021, which seeks to invest about 30 billion USD in strategic projects to drive post-coronavirus growth, boost employment for citizens and attract foreign direct investment.
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