Bahrain Ranks 2nd in The Arab World& 34th Globally as ‘Most Improving Country in GCC’ on the World Bank’s Logistics Performance Index 2023

Bahrain cemented new rankings on the Logistics Performance Index 2023 published by World Bank as the ‘Most Improving Country in the GCC’, ranking 2nd in the Arab World, and 34th globally, climbing 25 positions since 2018. Owing to the milestone projects and initiatives delivered within the logistics sector across the past year, the Kingdom advanced 58 positions on the ‘Timeliness Subindex’ to reach 2nd in MENA (10th globally) in view of the least aviation import dwell time on average. Moreover, Bahrain ranked 1st in the GCC in terms of minimal number of delay observations in import and exports.

The World Bank report offers a comprehensive review of the trade logistics performance, collecting data from May to October 2022 across 139 countries, using six components assessing namely efficiency of customs clearance, quality of trade & transport infrastructure, ease of arranging competitively priced international shipments, quality of logistics services, the ability to track consignments, and timeliness.

Commenting on the occasion, Ahmed Sultan, Executive Director of Business Development of Manufacturing, Transport, and Logistics at the Bahrain Economic Development Board, said: “Bahrain’s high ranking and favourable performance was earned in view of its robust supply chain and advanced logistics infrastructure. Bahrain serves as a gateway to the Gulf, with unparalleled access to MENA and beyond, where companies can benefit from Free Trade Agreements covering 22 countries offering privileged, duty-free access to 30% of the world’s GDP.”

“In line with the Economic Recovery Plan, this milestone ranking is a step in the right direction in achieving the targets outlined in the Logistics Services Sector Strategy which seeks to secure the Kingdom’s position among the leading global logistics services hubs.”

The logistics sector is a priority sector under the Kingdom’s Economic Recovery Plan, which aims to position Bahrain as one of the top 20 global destinations for logistics services and increase the sector’s GDP contribution in 2030 to be 10%. Launched in November 2021, the key pillars under the four-year Logistics Services Sector Strategy’s (2022-26) are backed by strategic initiatives, which focus on reviewing laws and regulations, developing infrastructure facilities, enhancing policies and procedures, providing incentives for investors, and promoting investment opportunities, all while strengthening regional and international engagement.

Bahrain Welcomes Singapore’s Whampoa Group’s New Digital Bank Initiative

Financial Harbour

The Bahrain Economic Development Board (Bahrain EDB) announced that Singapore-based Whampoa Group has selected Bahrain to be the headquarters of its new digital bank. With an intended launch date of end of 2023, the digital bank aims to provide secure and integrated financial solutions to serve institutions, innovators, and sophisticated investors globally, including digital banking services and the trading, custody, and asset management of digital assets; with the ultimate objective of supporting the growing adoption of digital assets worldwide.

Khalid Humaidan, Chief Executive of the Bahrain Economic Development Board, said: “We are delighted that Whampoa Group intends to set up the headquarters of their new digital bank in Bahrain as they would benefit from Bahrain’s pro-innovation environment and forward-looking regulatory framework. The establishment of these types of institutions are vital to further strengthen the existing digital assets industry and this milestone opportunity directly aligns with Bahrain’s Economic Recovery Plan, which prioritises digitisation across the financial services sector.”

Shawn Chan, Group Chief Executive Officer of Whampoa Group, expressed his excitement to launch the bank in the Kingdom of Bahrain, commenting: “We were impressed by Bahrain’s solid reputation in the financial services sector, transparent regulatory framework, and ongoing pledge to collaborate and innovate. We are committed to providing secure and innovative digital financial solutions in line with global best practices and are confident that our digital bank will set a new benchmark for the industry. Whampoa is grateful for the support from the Bahrain EDB and the broader Team Bahrain ecosystem throughout the entire process.”

Bahrain, a pioneering hub for digital asset regulation among Gulf Cooperation Council (GCC) countries, was among the first to issue crypto-asset licenses in the region, cementing itself as a leading hub for crypto services and fintech innovations in the region. The Kingdom’s well-established financial services and innovation hub, fast-growing diversified economy, and strategic location at the heart of the Arabian Gulf make it an ideal destination for the new digital bank. Bahrain’s financial services sector, which contributes 17.5% to the GDP, remains the highest contributor to the economy, surpassing oil and actively supporting economic diversification.

Mr. Chan added that the long-term outlook for digital assets remains bright as blockchain and other Web 3.0 technologies continue to drive the next evolution of the internet.
He noted that a World Economic Forum survey showed that 58% of 800 respondents expected up to 10% of global GDP would be stored and transacted via distributed ledger technology by 2027, and that the global tokenised market would potentially be worth as much as US$24 trillion by 2027. The number of crypto users, estimated currently at 320 million, is also slated to grow to as many as one billion by 2030, with 75% of merchants expected to accept cryptocurrency payments within the next two years.

KPMG and Bahrain EDB Host Seminar on Convertible Notes for Financing Start-Ups

Bahrain Economic Development Board (Bahrain EDB), recently collaborated with KPMG to host a  seminar titled “Interpreting Convertible Notes”,  which discussed the use of the financial instrument in financing startups and new business ventures in the Kingdom of Bahrain.

The seminar provided key insights on addressing common challenges facing business owners and entrepreneurs, in the likes of raising capital, elaborating on the concept and approach of using and issuing convertible notes in Bahrain as a potential solution for financing.

Several legal specialists and field experts took part in the seminar, including Nicolas Ribollet, Partner and Head of Deal Advisory at KPMG; Dr. Jameel Al Alawi, Senior Legal Advisor at Bahrain EDB; Camille Geadah, Director of Deal Advisory Services at KPMG; Harish Gopinath, Partner & Head of KPMG Enterprise in the MESAC Region; Jarmo Kotiliaine, Chief Strategy and Data Analytics Officer at Tamkeen; Dalal Buhejji, Executive Director – Financial Services at Bahrain EDB; Steven Brown from ASAR; Benjamin O’Brien-McQueenie from Trowers & Hamlins; William Reichert from Charles Russell Speechlys; and Suhail Algosaibi, Chairman of Tenmou and & CEO of Falak Consulting.

During the seminar, discussions around convertible bonds were additionally held from a legal and economic point of view. Angel investor Suhail Algosaibi also shared his experience in using the bonds.

Commenting on the sidelines of the seminar, Dr. Jamil Al-Alawi, Senior Legal Adviser at the EDB, said: “During the discussions we evaluated the use of convertible bonds as an attractive option to raise capital for businesses, especially start-ups and small to medium enterprises across international markets, considering the evolution of the financial instruments over the years into more modern and simplified instruments for businesses to raise capital.”

“These bonds play an important role in further enhancing the business-friendly environment in the Kingdom, and we expect them to contribute to easing the journey of business owners in raising capital,” he added.

Nicolas Ribollet, Deal Advisory Lead Partner at KPMG in Bahrain, said: “I am pleased to have worked with the Bahrain EDB on developing a publication titled ‘Interpreting Convertible Notes’, a useful guide on the newly introduced fund-raising instrument. Bahrain’s ecosystem and strategic location at the heart of the GCC continues to make it the perfect environment for startups to find all resources to test, launch, grow, and scale to the regional market.”

“I believe introducing Convertible Notes in the Company Law is a positive step towards facilitating the fund-raising process for startups and private companies, placing Bahrain in the forefront of innovation as the first country in the GCC to have legislated for and allowed convertible notes.”

Dr. Jarmo Kotiliaine, Chief Strategy and Data Analytics Officer at Tamkeen, said: “It’s important to have new tools to improve start-up access to financing, which ultimately supports economic diversification. This is especially important for technology-based start-ups, which have financing needs that are often difficult to meet through traditional channels. Having convertible notes expands the menu of options, builds confidence, and offers flexibility. Convertible notes are particularly attractive because of the simplicity and speed of tapping into funding.”

Dalal Buhejji, Executive Director of Business Development – Financial Services at Bahrain EDB, said: “Through this seminar, we intended to shed light on the importance of alternative means of financing in the growth of SMEs and startups. We are always keen on introducing new tools, such as venture capital funding, crowdfunding, and convertible notes, which encourage the generation of an innovative ecosystem by having varied options of funding available.”

“In view of the fact that  SMEs and startups require different kinds of funding to grow and expand, in parallel, this further contributes to supporting the growth of the private sector as it provides options for investors to diversify their portfolios from traditional investments to non-traditional startups. Convertible notes are a great tool for investors to demonstrate their confidence in the business, thereby creating a sustainable foundation for growth,” she added.

For the Second Consecutive Year Bahrain Ranks 1st in MENA for Financial, Investment, and Trade Freedom on the Heritage Foundation’s 2023 Index of Economic Freedom

For the second year in a row, the Kingdom of Bahrain ranked first in the Middle East and North Africa (MENA) for financial, investment, and trade freedom on the 2023 Index of Economic Freedom, published by the Heritage Foundation. With an economic freedom score of 62.5 (out of 100), an improvement of 0.5 from last year, the score places Bahrain’s economy as the 68th freest on the 2023 index.  Bahrain is ranked 4th among 14 countries in the MENA region, and its overall score surpasses the regional and world averages of 56.8 and 59.3 respectively.

In the 2023 Index of Economic Freedom report, Bahrain was highlighted as a financial hub for dynamic economic activity and openness to global commerce, sustained by a competitive and efficient regulatory environment. Additionally, the findings revealed the Kingdom’s overall investment framework to be positive and transparent, with equal treatment to both local and foreign investors.

Commenting on the occasion, Nada Al Saeed, Chief of Strategy at the Bahrain Economic Development Board, said: “Bahrain’s high ranking is a reflection of the government’s success in maintaining a progressive regulatory framework that offers high-yielding opportunities for investors owing to a favourable tax environment, ease of doing business, and unparalleled access to the USD 2.07 trillion GCC market and beyond. Alongside a highly skilled workforce, maintaining this liberal economic environment is a key differentiator in Bahrain’s value proposition as we continue to be guided by the national Economic Recovery Plan and work towards attracting additional investment into the Kingdom.”

As part of a strategic national vision, which has successfully launched multiple projects, the national Economic Recovery Plan (ERP) aims to enhance the Kingdom of Bahrain’s long-term competitiveness and achieve fiscal balance by 2024. A key deliverable under the ERP is to create quality jobs and training opportunities for Bahrainis and attract Foreign Direct Investments (FDI) worth more than USD 2.5 billion by 2023 across key sectors. The Index of Economic Freedom focuses on four key aspects of economic and entrepreneurial environment that governments typically control, namely rule of law, government size, regulatory efficiency, and market openness. In assessing conditions across these four categories, the Index measures 12 specific components of economic freedom, each of which is graded on a scale from 0 to 100. Scores on these 12 components of economic freedom are calculated from a number of sub-variables and then equally weighted and averaged to produce an overall economic freedom score for each economy.

Bahrain EDB Chief Executive Meets with the Kingdom of Saudi Arabia’s Minister of Investment

H.E. Khalid Humaidan, Chief Executive of Bahrain Economic Development Board (Bahrain EDB), received H.E. Eng. Khalid Abdulaziz Al-Falih, Saudi Arabia’s Minister of Investment, for a meeting during the Minister’s official visit to Bahrain. The visit comes in line with the ongoing efforts to maintain cooperative and collaborative economic ties between the two Kingdoms. 

During the meeting, H.E. Khalid Humaidan highlighted the vital role of Bahrain EDB in attracting direct investment across the priority sectors outlined in the Bahrain Economic Recovery Plan (ERP), announced in 2021, which work towards further diversifying the Kingdom of Bahrain’s economy.

Additionally, the Chief Executive elaborated on the mandate of Bahrain EDB of enhancing the overall investment climate to drive sustainable economic growth.

The meeting also discussed potential areas of cooperation across the priority sectors, namely financial services, manufacturing, logistics, information and communications technology (ICT), and tourism; and respective strategic projects in line with ERP. As of 2022, Saudi Arabia’s FDI stock in Bahrain reached $9.1 billion, making up 26% of total FDI, which totals up to approximately USD 35.4 billion. During 2022, Bahrain EDB attracted over USD 1.1 billion, which is projected to create over 6,000 new jobs in the Kingdom over the next three years. In line with the ERP, the Kingdom continues to innovate its regulatory framework to create a more robust, conducive business environment and streamlined processes to achieve over USD 2.5 billion in direct investment between 2022-2023.

A High-Level Delegation from Bahrain Wraps Up a Successful Visit to Japan and South Korea

A high-level delegation from Bahrain, led by H.E. Abdulla bin Adel Fakhro, Minister of Industry and Commerce, and supported by H.E. Noor bint Ali Al Khulaif, Minister of Sustainable Development, concluded its visit to Japan and South Korea. The visit, which took place between May 5 and May 12, was organized by the Ministry of Industry and Commerce (MOIC) with the support of the Bahrain Economic Development Board (Bahrain EDB), to strengthen trade ties between the two countries and attract investment into the Kingdom. 

Supported by the Bahrain Chamber of Commerce and Industry (BCCI), the delegation was comprised of H.E. Khaled Humaidan, Chief Executive of the EDB, Mr. Mohamed Abduljabbar Al Kooheji, Second Vice Chairman of the BCCI, and senior representatives from the Bahrain Tourism and Exhibition Authority (BTEA), Alba, Nogaholding, Export Bahrain, Gulf Petrochemical Industries Co. (GPIC) and Bahrain-based Gulf Aluminum Rolling Mill (GARMCO). 

In both Tokyo and Seoul, a lineup of government-to-government meetings, business networking events, which featured H.E. the Minister of Sustainable Development and H.E. the Minister of Industry and Commerce as panelists, outlined high value investment opportunities in Bahrain, with a focus on priority sectors, namely financial services, manufacturing, logistics, Information and Communication Technology (ICT), and tourism, in line with the Economic Recovery Plan (ERP), launched late 2021.  

Three headline events were hosted by Bahrain EDB, an exclusive roundtable co-hosted by Japan-Bahrain Economic Cooperation Association (JBECA), a business forum co-hosted by Japan External Trade Organization (JETRO), and finally, an investment forum co-hosted by the Korean Chamber of Commerce and Industry (KCCI). 

The Minister of Sustainable Development, H.E. Noor bint Ali Al Khulaif, said: “Bahrain has cemented itself a trusted hub for global businesses looking to invest in sustainable projects. This visit was vital in highlighting the Kingdom’s competitive edge. I look forward to the mutually beneficial opportunities that will contribute to even stronger relations between Bahrain and the two nations.” 

H.E. Abdulla bin Adel Fakhro, Minister of Industry and Commerce, added: “These visits were paramount in solidifying Bahrain’s relationships with Japan and South Korea. With long-standing trade relations between Bahrain and the two countries, there is ample opportunity for an even brighter future with Bahrain serving as a gateway for wider regional markets.”  

Bahrain has cultivated strong bilateral relationships with both Japan and South Korea, which has been growing steadily over the past few years, where non-oil bilateral trade exceeded US 660 million with Japan and US 550 with South Korea in 2022. With complementary export and import transactions strengthened by commercial and cultural alliances between the two nations, Bahrain has undertaken strategic measures to further cement itself as pioneer in impactful global trends in key sectors to enhance its investment climate and further diversify the economy, backed by a business-friendly environment.  

While Bahrain is home to over 20 leading Japanese firms operating in Bahrain, namely in the manufacturing sector, and remains a strong trading partner to South Korea with goods traded in the likes of machinery, vehicles, and aluminium; these high-level visits and official meetings seek to further enhance trade ties and boost investment opportunities between the two countries.

Bahrain EDB to Host Second Quarterly Business Law Forum for 2023

Bahrain Bay Skyline

The Economic Development Board (Bahrain EDB), is set to host the second of its Quarterly Business Law Forum for 2023. The forum will take place on the 11th May 2023, at Ritz-Carlton Bahrain. With these forums, the Bahrain EDB aims to establish a platform to facilitate a space for stakeholders and experts to regularly discuss and debate topical issues, learn about the latest development in the realm of business law and assess the need for improving existing laws or the introduction of new laws to improve the ecosystem for doing business in the kingdom.   

In view of the Bahrain EDB’s mandate to attract investment opportunities and enhance Bahrain’s investment climate; EDB champions regularly reviewing existing business legislation and establishing dynamic business laws, with a particular focus on addressing potential issues in ICT and priority sectors outlined in the Economic Recovery Plan, as this is considered vital to support the development of a business-friendly environment. Moreover, it helps to enhance the ecosystem to attract investment and further diversify the economy, thereby stimulate economic growth and increase high-value opportunities for employment.   

This is the second quarterly forum for this year, the first was held on January 12th, 2023. Among several other topics to be discussed, this forum will focus on knowledge exchange and discussion of digital markets, digital services, and data governance. This focus will be the subject of a presentation titled “Recent EU Digital Services Act, Digital Markets Act and Data Governance Act: Should the GCC be inspired?” delivered by Mr. Dino Wilkinson of Clyde and Co, who’s one of the leading technology lawyers in the region with 20 years of experience and respected contributions to IT, media and telecommunications law. Luca Castellani, Legal Officer in the Secretariat of the United Nations Commission on International Trade Law (UNCITRAL) will discuss the most contentious issues in the international sale of goods. The forum will also discuss recent developments in company law and commerce law together with other topical legal issues.   The forum will feature other speakers including Noor Radhi, a Deputy Senior Partner at Hassan Radhi and Associates, Izabella Szarkowski, Partner in the Corporate Structuring Team, and finally Jameel Al Alawi, Senior Legal advisor at Bahrain EDB. 

In recent years, in line with increasingly global trends, four technology laws were introduced in the Kingdom with the aim of innovating Bahrain’s legislative ecosystem towards a more sustainable future. The first law was the Personal Data Protection Law, which was designed to be another catalyst for the development and growth of Bahrain’s digital economy by governing the processing of personal data. The second law was the Electronic Communications and Transactions Law to regulate the recognition of electronic communication, electronic contracts and electronic trust services. The third law is related to cloud computing services designed to encourage parties located outside Bahrain to use cloud computing data centers located in the Kingdom. The fourth law gives recognition and regulates electronic transferable records. By virtue of this law, Bahrain was the first country in the world to adopt the Model Law on Electronic Transferable Records developed by the United Nations Commission on International Trade Law (UNCITRAL). Electronic Transferable Records include electronic cheques, bills of exchange, promissory notes, bills of lading, letters of credit and warehouse receipts that are in electronic form. 

Commenting on the announcement of the forum, Dr. Jameel Al Alawi, the Senior Legal Advisor at the Bahrain EDB, said: “We in EDB are proud to organize these quarterly business law forums. Through these forums, we hope to build on Bahrain’s pioneering strides towards enriching the business ecosystem, by enabling discussion and debate and providing relevant insights to further elevate Bahrain’s competitiveness on a global map.”

A Bahraini High-Level Delegation Heads to Japan and South Korea to Promote Investment Opportunities

A high-level delegation from Bahrain, led by the Minister of Industry and Commerce, H.E. Abdulla bin Adel Fakhro supported by H.E. Noor bint Ali Al Khulaif, Minister of Sustainable Development, is heading for a weeklong visit to Japan and South Korea scheduled from May 5 to May 12, 2023.

Organised by the Ministry of Industry and Commerce (MOIC) and supported by Bahrain Economic Development Board, the visit is designed to add value across a multi-year investment horizon in alignment with the Economic Recovery Plan to deliver sustainable benefits to Bahrain’s investment climate, economy, and society at large.

The visit will bring together an expert team from Bahrain’s public and private sectors to promote high-impact investment opportunities in Bahrain, where in addition to key officials from the MOIC, Ministry of Sustainable Development and Bahrain EDB, the delegation will be supported by the Bahrain Chamber of Commerce and Industry, the Bahrain Tourism and Exhibitions Authority (BTEA), Nogaholding, Alba, Export Bahrain, and Bahrain-based Gulf Aluminium Rolling Mill (GARMCO).

Additionally the visit will be aiming to foster strengthened economic and trade ties across the two countries, focusing on key economic sectors namely financial services, manufacturing, logistics, Information and Communication Technology (ICT), and tourism; in both Japan and South Korea. A dynamic line up of events, site visits, and strategic meetings have been planned for the delegation to engage with influential government counterparts and representatives of leading companies with secured global reputations.

Starting in Tokyo, Japan, on the sidelines of the strategic business development meetings by the entire delegation, the Bahrain EDB will be hosting two headline events to shed light on investment opportunities. The first exclusive roundtable will be held in collaboration with the Japan-Bahrain Economic Cooperation Association (JBECA) with select top-level executives, while the business forum co-hosted by the Japan External Trade Organization (JETRO), titled ‘Accessing Opportunities in MENA via Bahrain’ will invite key stakeholders from leading companies in Japan and feature two panel discussions. The first panel discussion will highlight investment opportunities in Bahrain, while the second session, titled ‘From Bahrain to the World: Stories of Success from Japanese Industry Leaders’.

Moving onto Seoul, South Korea, in collaboration with the Korea Chamber of Commerce and Industry (KCCI) the Bahrain EDB, has organised a forum and networking event to discuss mutually beneficial investment opportunities. The forum will witness sessions delivered by key members of the delegation, featuring a fireside chat to discuss Bahrain’s strategic value in enabling companies to access markets in the MENA and beyond.

H.E. Abdulla bin Adel Fakhro, the Minister of Industry and Commerce, said: “Economic diversification and innovation are vital pillars of Bahrain’s economic growth, and this curated delegation visit aims to secure new commercial opportunities across focused sectors, which will enable Bahrain to form strategic partnerships with Japan and South Korea, further building upon strong economic and trade ties.”

Howden accelerates growth in the Gulf with the establishment of Howden Bahrain

Howden, the international insurance broker, announces today that it has received a regulatory license from the Central Bank of Bahrain to establish operations in the Kingdom of Bahrain. This represents a significant step in Howden’s strategic growth ambitions for the Gulf region.

The establishment of Howden Bahrain adds another key territory to Howden’s footprint in the Gulf, with existing operations in Dubai, Abu Dhabi and Oman employing over 200 people in the region. It will provide a full range of insurance broking and risk advisory services across multiple risk sectors including Aviation, Construction, Energy, Financial Institutions, Marine, Property & Casualty, Employee Benefits and Specialty Lines.

Adam Knights, Executive Director and Chief Executive Officer, Howden Bahrain, said: “I am delighted to be involved in this new and exciting venture here in Bahrain, which has been my home for 26 years. Howden Bahrain will provide Bahraini clients with personalised insurance solutions bolstered by Howden’s specialist expertise, data and analytics and technological capabilities. Our engagements with multiple renowned Bahraini enterprises have encouraged us that there is ample opportunity for an alternative insurance broker to provide services in the Kingdom, and our strategy will be to grow a sizeable market share by adding value to Bahraini clients using our international capabilities and by attracting and developing local talent.”

David Howden, Chief Executive Officer, Howden Group, added: “Howden has operated in the Gulf for over a decade, and we were attracted to the Kingdom of Bahrain due to its reputation for being business friendly, combined with its comprehensive regulatory environment and the availability of experienced and talented local individuals. Our goal is to provide choice for clients in Bahrain and the wider Gulf region. We are eager to grow our existing territorial presence and develop a range of specialist solutions, and look forward to building one of the leading brokers in the region, combining our international platform with local expertise.”

Dalal Buhejji, Executive Director of Business Development for Financial Services at the Bahrain Economic Development Board, said: “We are thrilled to see Howden enter the market benefiting from Bahrain’s earned reputation as the region’s most established financial hub with a forward-looking business ecosystem. In line with the Financial Services Sector Development Strategy under the Kingdom’s Economic Recovery Plan which outlines an overall objective to increase the financial services sector’s contribution to GDP to 20% by 2026, further developing Bahrain’s insurance subsector is a vital deliverable alongside five priorities. Attracting leading players in the likes of Howden to set up operations in Bahrain is another positive step towards realising this target.”

Howden is a proud sponsor of Bahrain’s Crown Prince’s Cup, underlining Howden’s passion for international horse racing in Bahrain and its commitment and support to local communities. 

The Kingdom of Bahrain launches Golden License to attract large-scale investment projects

Bahrain today announced the launch of a Golden License, providing incentives and streamlined services to foreign and local businesses with large-scale investment projects in Bahrain, in an important step in the country’s pursuit to incentivise investments and boost job creation under its fiscal and economic reforms. 

The move builds upon the growing investment attractiveness of Bahrain, which has recently recorded its highest Real GDP growth rate in almost a decade. 

Companies with major investment and strategic projects that will create more than 500 jobs in Bahrain, or those with investment value exceeding USD 50 million, will be eligible for the License. 

With the License, companies will enjoy a wide range of privileges and benefits, including prioritised allocation of land for investments, infrastructure services and utilities. They will also have streamlined access to government services – including business licensing and building permit approval, as well as support from Bahrain’s Labour Fund, Tamkeen, and Bahrain Development Bank. 

Introduced by Bahrain’s Cabinet, which was chaired by His Royal Highness Prince Salman bin Hamad Al Khalifa, Bahrain’s Crown Prince and Prime Minister, the License aims to attract investments from local and international companies, and create jobs locally. These are priorities of the Economic Recovery Plan, the blueprint of Bahrain’s fiscal and economic reforms introduced in 2021 that has been the driving force of the country’s recent robust economic performance.

Further advantages under the License 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. 

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