Bahrain launches ‘Golden Licence’ to attract large-scale investment projects

Bahrain launches ‘Golden Licence’ to attract large-scale investment projects

Daily Current Affairs   /   Bahrain launches ‘Golden Licence’ to attract large-scale investment projects

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Category : International Published on: April 06 2023

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  • Bahrain has taken a significant step towards incentivizing investments and job creation by launching a new initiative, the Golden Licence.
  • The Golden Licence is designed to provide streamlined services and benefits to local and foreign businesses with large-scale investment projects in Bahrain.
  • This initiative is a testament to Bahrain's growing investment attractiveness, as the country has recently achieved its highest real GDP growth rate in almost ten years.
  • The Golden Licence offers various benefits, including prioritized land allocation for investments, infrastructure services, utilities, and streamlined access to government services like business licensing and building permit approval, as well as support from Tamkeen and Bahrain Development Bank.
  • This initiative was introduced by Bahrain's Cabinet, chaired by Prince Salman bin Hamad Al Khalifa, Bahrain's Crown Prince and Prime Minister.
  • Under the Licence, companies will enjoy integrated cooperation with different government departments and a designated account manager from Bahrain's Economic Development Board.
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