Bahrain Grants First 5 Golden Licenses to Attract Investments

Bahrain granted today, Thursday, its first five golden licenses for projects that provide job opportunities, with a total value exceeding $1.4 billion. The statement indicated that the licenses were awarded to companies "City," "Eagle Hills Diyar," "Infracorp," "Saudi Telecom Company," and "Wamboa Group," allowing these companies a range of benefits, including expedited procedures. The Economic Development Board stated that "projects qualifying for the license must provide over 500 local jobs or commit to investing more than $50 million within their first five years in Bahrain." The statement confirmed that the golden license would enhance Bahrain's competitiveness for attracting investments, boost economic growth, and encourage digital transformation of the economy. This move is part of an economic recovery plan launched by the oil-producing kingdom in October 2021 to enhance growth and create job opportunities.