MANAMA: Parliament’s financial and economic affairs committee is set to discuss the Investment Law on Sunday.
Committee chairman Ahmed Al Salloum said the law has been drafted following a proposal by the Shura Council to encourage, protect, support and regulate investment in the kingdom.
The committee has made amendments to the proposed law to create a stimulating environment for investment.
The law is expected to be finalised during Parliament’s recess and submitted for debate at the start of the next legislative term, he told our sister paper Akhbar Al Khaleej.
Amendments mainly stipulate that foreign capital shall not be less than BD5 million in return for benefits and privileges granted by the government, such as fee exemption.
Bahrainisation rates have been set based on business activity, he said.
The law will take into consideration Bahraini investors in the first place, followed by Gulf investors and foreign investors, he pointed out.
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