Bahrain's top business body aims to develop a new investment policy that will aim to strengthen the national economy, create new jobs for Bahrainis, promote technological change and adhere to the state’s general strategy for economic development.
The Bahrain Chamber has stressed that the new draft law must be based on stimulating investment as well as protect, investors while being transparent, according to our sister paper Akhbar Al Khaleej.
It was replying to the Parliament’s financial and economic affairs committee.
The Chamber also called for the need to review all laws and fees to ensure optimal investment attraction, attend to investment in the agricultural sector and animal wealth to achieve food security, while using modern technology and achieving high added value to benefit the country’s economy and foreign investment.
The draft law, it pointed out, aims to achieve the kingdom’s economic vision 2030 by creating an attractive and safe environment for local and foreign investment and moving from an oil-based economy to a productive economy capable of competing globally.
The bill also specifies key investment areas. The Cabinet may add other projects, it said.
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