Golden license for 5 projects in Bahrain
According to what was published by the Bahrain News Agency on Thursday, the Kingdom of Bahrain has moved on with its plans to attract new investors by awarding its "golden license" to five different projects.
As part of Bahrain's strategy to entice direct investments with a total value of $2.5 billion by the end of this year, enterprises both within and outside of Bahrain are eligible to receive the "golden license," which confers a number of benefits and facilities for the purposes of investment and strategic project development.
More than 1.4 billion dollars are going into the various projects combined.
Within the next three years, it is anticipated that the new initiatives and corporate expansion projects would result in the creation of 1,400 local job opportunities.
According to the government, the golden license is awarded to businesses that are capable of producing more than 500 local employment or whose investment worth exceeds $50 million in the first years of their work in Bahrain.
Within the next three years, it is anticipated that these developments would result in the creation of 1,400 job openings.
According to Abdullah Fakhro, Minister of Industry and Commerce of Bahrain, "The granting of the golden license to a number of projects is an important step towards achieving the strategic goals of the economic recovery plan, which aims to attract $2.5 billion in direct investments by the end of 2023."
Additionally, he stated, "The golden license is a tangible evidence of Bahrain's investment attractiveness and flexible investment environment, in addition to the advanced legislative system, which contributes to making Bahrain one of the best investment destinations and enhances its competitiveness in attracting investments."