LuLu Group Chairman and and Managing Director Yusuff Ali M A became the first recipient of Bahrain's long-term Golden Residency Visa on Sunday (Feb 13).

 

The 10-year Golden Residency Visa scheme, announced last week, is part of the kingdom's economic recovery plan to attract investors and talents to boost its economy.

 

His Majesty King Hamad bin Isa Al Khalifa yesterday received Yusuff Ali at Al Safriya Palace and  presented him with the visa, a Bahrain News Agency report said.

 

HM the King hailed his efforts and contributions to supporting the trade, economic and investment sectors in the Kingdom.

 

He hailed the successes achieved by Lulu Group since its establishment, praising its steadily-growing activities in the Kingdom and abroad, wishing Yusuff Ali continued success.

 

Earlier, Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister, recieved the businessman.

 

He noted the retail sector's contribution to Bahrain's economic development and  reiterated that enhancing the Kingdom's economic competitiveness and sustainability will benefit Bahrain Economic Vision 2030 and contribute to the goals of comprehensive development.

 

"Obviously a very proud and humbling moment in my life to receive this honour today. I sincerely thank HM King Hamad bin Eisa Al Khalifa, HRH Salman bin Hamad Al-Khalifa, Crown Prince and Prime Minister of Bahrain and the Government of Bahrain,” Yusuff Ali said, after receiving his Golden Visa number 001.

 

“I am sure this new permanent residency initiative will further boost Bahrain's image as one of the key investment and business hubs of the region as well as attract and retain new investors here,” he added.