RIYADH: Bahrain on Monday said it was introducing a “golden license” offering benefits to companies bringing large scale investment projects to the Gulf state.
The move is part of an economic recovery plan launched by the oil producing state in October 2021 to boost growth and job creation.
“Companies with major investment and strategic projects that will create more than 500 jobs in Bahrain, or those with investment value exceeding $50 million, will be eligible for the license,” the government’s media office said.
The golden license will be offered to local and foreign businesses and benefits include prioritized allocation of land, infrastructure and services, easier access to government services and support from government development funds, the statement said.
It said other advantages include integrated cooperation with various government departments, a designated account manager from Bahrain’s Economic Development Board, as well as potential review of existing laws or regulations where necessary and applicable.
