The launch of the ‘Golden Residency Visa’ by Bahrain will enhance the Kingdom’s competitiveness and strengthen its business environment, while increasing the Kingdom’s investment attractiveness, said Khalid Ibrahim Humaidan, Chief Executive of the Economic Development Board (EDB). 

 

Humaidan said the ‘Golden Residency Visa’ will contribute to promoting Bahrain as an ideal regional hub for investment, in parallel with the EDB mandate. 

 

He explained that this is especially important as it aligns with the launch of seven important strategies in various priority sectors, most notably infrastructure, telecommunications, ICT, and digital economy sectors, which aim to benefit investors within the ambitious Economic Recovery Plan. 

 

The ‘Golden Residency Visa’ will give confidence to investors seeking to launch or expand their businesses in the Kingdom, and will encourage them to settle in Bahrain in order to closely engage with their business operations. This will also allow international investors to engage more with the Bahraini business community, and capitalise on its wide-ranging offerings, he added. 

 

Humaidan underscored that the EDB, through its continuous promotion of Bahrain’s business environment in international forums and roadshows, will promote the ‘Golden Residency Visa’ as one of the Kingdom’s key competitive advantages. The adoption of this scheme by countries in the region and worldwide had substantial results in enhancing the economic and investment status of these countries while maximising their global competitiveness. 

 

The Economic Development Board is the entity responsible for attracting investments into Bahrain. In 2021, the EDB supported 86 successful projects with a three-year projected value of BD333 million direct investment, which is expected to create over 4,500 jobs. – TradeArabia News Service