World Economy

Bahrain Eases Foreign Ownership Law

Bahrain Eases Foreign Ownership LawBahrain Eases Foreign Ownership Law

Foreign investors in Bahrain will be able to acquire 100% business ownership in various sector as government approves amendment to existing commercial companies’ law. The decision was made at Monday’s cabinet session headed by Prime Minister Khalifa Al Khalifa, Arabian Business reported. The new law is meant to ‘spur growth, generate rewarding jobs for citizens, and attract businesses to invest in various economic sectors,’ according to the cabinet. The new law will allow 100% ownership in residency, food, administrative services, arts, entertainment and leisure, health and social work, information and communications, manufacturing, mining and quarrying, water supply and professional, scientific, technical and real estate activities.