Bahrain approves new law to allow 100% foreign ownership

Foreign investors in Bahrain will be able to acquire 100 percent business ownership in various sector as government approves amendment to existing Commercial Companies Law.

The decision was passed at yesterday’s cabinet session headed by Prime Minister Prince Khalifa Al Khalifa, reported Gulf Daily News.

The new law is meant to ‘spur growth, generate rewarding jobs for citizens, and attract businessmen to invest in various economic sectors,’ according to the cabinet.

It is also meant to enhance the government’s performance and revive certain trade segments.

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