Bahrain to facilitate setting up new businesses

May 22, 2014 1:28 am

Bahraini lawmakers have voted in favour of amendments to a legislation that will see restrictions on setting up new companies waived, as the government seeks more foreign investment, Gulf Daily News has reported. The changes give minimum shareholders a say in the company’s board. “Bahrain has always been a leader in investment and we are seeking more, but with unrealistic restrictions we get pushed back, so we came with urgent amendments to attract more capital into our market,” said industry and commerce minister, Dr Hassan Fakhro. “We want companies opening here to operate with ease and the amendments we presented are modern and take all international legislation into account,” added the minister.