Bahrain has launched a new 'golden license' that includes benefits for companies offering large-scale investment projects to the Kingdom, as part of an economic recovery plan launched by the Kingdom in October 2021 to boost growth and create jobs.
The Golden License will benefit companies and institutions that will create more than 500 local jobs to contribute to the creation of promising job opportunities, or whose investment value exceeds $ 50 million in the first years of their work in the Kingdom and contribute to enhancing development paths at the local level. The Gold License will be granted to local and foreign companies, and the benefits include priority in land allocation, infrastructure, and services, ease of access to government services, and support from government development funds.
Bahrain, one of the most heavily indebted countries in the Gulf, received a $10 billion bailout in 2018 linked to reforms aimed at achieving fiscal balance by 2024. Higher oil prices helped Bahrain, and real GDP grew by 4.9% in 2022, the fastest rate since 2013.
Source (Al-Arabiya.net Website, Edited)
