Bahrain’s Golden License: $2.4bn Investment & 3,000 Jobs Boost

11 March 2024

Bahrain’s Golden License: $2.4bn Investment & 3,000 Jobs Boost

Bahrain’s Golden License Drives $2.4bn Investment and 3,000 Jobs

Bahrain’s Golden License initiative, introduced in April 2023, has spurred $2.4 billion in investments across nine projects, furthering economic diversification and growth in the nation.

Key Highlights:

  • Investment of $2.4 billion from nine projects in Bahrain
  • Creation of over 3,000 jobs in diverse sectors
  • Golden License offers exclusive benefits to businesses

The Golden License initiative, launched in April 2023, aims to stimulate economic diversification and growth by providing businesses with exclusive benefits, including white-glove treatment and priority allocation on key project milestones.

Bahrain’s Economic Progress:

Bahrain’s commitment to digital transformation and economic development has attracted significant investments. The nation’s highly skilled workforce, supported by government-backed training initiatives, has been instrumental in this growth.

With a foreign direct investment (FDI) stock relative to GDP exceeding 81 percent, Bahrain has established itself as a trusted destination for international investors, showcasing its competitive value proposition and economic significance in the region.

New Projects Fueling Growth:

Among the newly awarded projects are Bahrain Titanium, the National Bank of Kuwait’s first greenfield head office outside Kuwait, a data center facility by Beyon, and the urban waterfront development Bahrain Marina, all contributing to Bahrain’s economic expansion.

Government Statements:

Noor bint Ali Alkhulaif, Minister of Sustainable Development and Chief Executive of Bahrain Economic Development Board (Bahrain EDB), highlighted Bahrain’s commitment to being business-friendly and ensuring long-term success through initiatives like the Golden License.

Abdulla bin Adel Fakhro, Minister of Industry and Commerce, emphasized Bahrain’s reputation for ease of doing business, progressive legislation, and agility, welcoming both local and international projects.

Economic Growth in Bahrain:

Over the past two decades, Bahrain has experienced remarkable economic growth, with its GDP increasing from $9.6 billion in 2002 to $44.4 billion in 2022. The non-oil sector has been a significant driver of this growth, with the financial services sector emerging as a leading contributor.

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11 March 2024

Bahrain’s Golden License: $2.4bn Investment & 3,000 Jobs Boost

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