The Bahrain Economic Development Board, which is tasked with attracting investments and promoting the investment environment in the kingdom, announced this week the attraction of 134 foreign companies with a total investment of 835 million U.S. dollars.
The Ministers of Finance of the Kingdom of Saudi Arabia, the United Arab Emirates, the State of Kuwait…950 | the publication reaches you by | Bahrain News
Saudi Al-Haram Company specialized in clothing opened its first branch in 2018 in Bahrain. So far three branches have been opened, creating 150 jobs for Bahrainis.
“All procedures to launch our business in Bahrain were smooth and we didn’t face any hinder,” said Hassan Noor, CEO of the company.
The government support has also encouraged Surinda Mandhwani, a partner of the VFM Accounting & Bookkeeping, to open his business’ second branch in Bahrain after the United Arab Emirates.
“We have chosen Bahrain for its being an old financial hub in the region,” he told Xinhua.
Bahrain allows foreigners to be involved in almost all business activities and have 100 percent ownership.
They can also start their businesses through SIJILAT, an electronic system that allows the registration and licensing of commercial establishments by linking all government organizations concerned.
Bahrain looks forward to attracting more investments this year through its continuing support for the non-oil sector to achieve economic diversity, as Minister of Financial and National Economy Shaikh Salman bin Khalifa Al Khalifa recently announced a 63-percent increase in the non-oil revenues last year.
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