Bahrain has awarded its first five exclusive Golden Licences to major projects, collectively injecting over $1.4 billion into the Kingdom’s economy.
The coveted Golden Licences have been granted to prominent entities including Citi, Eagle Hills Diyar, Infracorp, Saudi Telecommunication Company, and Whampoa Group.
The development is expected to generate more than 1,400 job opportunities within the next three years, aligning with the goals of Bahrain’s ambitious Economic Recovery Plan.
Designed to bolster competitiveness and attract investments, the Golden Licence offers a range of advantages and facilities to local and international companies.
To be eligible, companies must create over 500 local jobs or make a substantial investment exceeding $50 million in their initial years in the Kingdom, thereby contributing to its overall development.
Abdulla Adel Fakhro, the Minister of Industry and Commerce, hailed the launch of the Golden Licence as a pivotal step towards achieving the objectives of Bahrain’s Economic Recovery Plan, which aims to attract $2.5 billion in foreign investments by the end of 2023.
“Bahrain possesses an attractive and flexible investment environment in addition to its advanced legislative system, which contributes to making this country one of the best investment destinations globally,” added Fakhro.
Khalid Humaidan, Chief Executive at the Economic Development Board, said that the Golden Licence was a successful public-private partnership that provides tailored solutions for investors and start-up companies.
He added that through fast-tracked approvals and an array of features and facilities, Bahrain has empowered these entities to establish a global footprint from within its borders.
