Bahrain has announced the first five recipients of its Golden Licence to projects and firms making major investments in the country.

Bahrain has granted its first five Golden Licences to projects in the Kingdom

The projects granted the exclusive Golden Licence are presented by:

  • Citi
  • Eagle Hills Diyar
  • Infracorp
  • Saudi Telecommunication Company
  • Whampoa Group.

The projects have a collective investment of more than $1.4bn into Bahrain and are expected to create more than 1,400 job opportunities within the next three years in support of the Kingdom’s Economic Recovery Plan goals.

Bahrain Golden Licence

The Golden Licence is designed to enhance Kingdom’s competitiveness for investment and economic growth, while encouraging the digital transformation of the economy.

The Golden Licence targets local and international companies by providing a set of advantages and facilities for investment projects.

Companies eligible to obtain the Golden Licence must create more than 500 local jobs or make an investment of more than $50m in their first years in the Kingdom while contributing to strengthening the Kingdom’s overall development.

In recognition of the Golden License launch, Abdulla Adel Fakhro, Minister of Industry and Commerce, said: “The Golden License is a pivotal step towards successfully achieving the objectives of Bahrain’s Economic Recovery Plan, which aims to attract $2.5bn in foreign investment by the end of 2023.”

The Minister of Industry and Commerce said: “Bahrain possesses an attractive and flexible investment environment in addition to its advanced legislative system, which contributes to making this country one of the best investment destinations globally.

Khalid Humaidan, Chief Executive at the Economic Development Board, said: “The Golden Licence is a successful public-private partnership that has created bespoke solutions for investors and start-up companies.

“It has provided them with fast-tracked approvals and several features and facilities that have enabled them to secure a global footprint from Bahrain.

“New investment projects are expected to create over 1,400 new job opportunities across Bahrain’s financial services, tourism, and ICT sectors, cementing its position on an international playing field.”

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