The introduction of a Golden License for Bahrain has been announced, which will offer incentives and streamline services to local and foreign companies undertaking significant investment projects in Bahrain. The development is a crucial step in the nation’s efforts to encourage investments and increase employment growth through its fiscal and economic reforms.

The action builds on Bahrain’s rising investment appeal, which recently had its greatest real GDP growth rate in a decade. Businesses would be eligible for the license if they have significant investments and strategic plans that will generate more than 500 new jobs in Bahrain or investments worth more than USD 50 million. Companies will gain access to a host of advantages and perks with the license, including priority land allocation for investments, infrastructure services, and utilities. Additionally, they will benefit from faster access to government services like approval of building permits and licenses for businesses, as well as assistance from Tamkeen, the Bahrain Labor Fund, and the Bahrain Development Bank.

The Golden License, presented by Bahrain’s Cabinet and presided over by His Royal Highness Prince Salman bin Hamad Al Khalifa, Bahrain’s Crown Prince and Prime Minister, seeks to bring in domestic and foreign investments and increase employment in Bahrain. The initiative is aligned with the objectives of Bahrain’s Economic Recovery Plan, the road map for the country’s fiscal and economic reforms launched in 2021, which have been the mainstay of the recent strong economic performance of the nation. A designated account manager from Bahrain’s Economic Development Board, integrated interaction with multiple government ministries, and the prospective review of current laws or regulations where appropriate and necessary are additional benefits under the license