Bahrain stepping up help for local companies

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Manama: Bahrain is stepping up efforts to boost commercial companies and create an attractive business environment.

New incentives have been introduced to offer more investment options and enable firms to increase their revenues.

The new package was stipulated in a bill, amending some provisions of the corporate law, issued by decree 21 of 2001.

It was based on a recommendation of the Government Executive Committee, chaired by His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince, Deputy Supreme Commander and First Deputy Prime Minister.

The business catalyst was announced during the weekly Cabinet meeting yesterday, chaired remotely by the Crown Prince.

The proposed law aims to consolidate minority investor rights, allow the establishment of non-profit companies and provide legal tools for mergers and acquisitions.

The amendments also aim to enhance the administrative organisation of companies’ work and facilitate procedures to keep pace with global developments.

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