Wealth Management by

Dr. Fakhro chairs 20th joint committee meeting to facilitate the procedures and transaction of commercial registration

June 21, 2014 9:19 am

Industry and Commerce Minister Dr. Hassan Fakhro confirmed Ministry to provide all possible facilities to investors and businessmen especially in registering companies and commercial institutions at all level, pointing ministry success to reduce the duration of procedures to the lowest level especially within efforts undertaken by the ministry in this aspect though introducing some electronic systems that contributed to facilitate the registration process.

This came during chairing the 20th joint committee meeting to facilitate the procedures and transaction in both industrial and commercial sectors in presence a number of government officials and agencies concerned as well as private sector representatives. During the meeting, they reviewed and discussed the developments of the work at the sites concerned commercial and industrial registration, especially Bahrain Investors Center, as well as project of Industrial Directorate, referring to ministry’s keenness to solve all the problems and obstacles that might hinder the registration procedures, stressing in this regard the role of the competent authorities of other licenses for these activities, that the ministry cannot issue the final license according to the procedures and regulations adopted in this regard, note that the average number of registration in the center is about 2,500 companies annually.

In this regard, the Minister expressed Ministry appreciation on all efforts and initiatives undertaken by the concerned authorities, and continuous cooperation between the ministry and all matters related to commercial registration, stressing ministry readiness to study all proposals and views that will develop the centers’ work which contribute to overcome all the obstacles and constraints that could cause a delay in issuing registration.

In regard to industrial side, they reviewed the latest development of registering project system “BLIS” where the minister detailed about project latest developments and challenges that require action among all actors to participate in order to overcome all obstacles in preparation to launch the system at the beginning of August 2014. The Minister directs professionals in the ministry to raise awareness and market the project.

In this context, the representatives expressed their appreciation for the great efforts made by the Ministry of Industry and Commerce in order to facilitate commercial procedures in the Kingdom of Bahrain, praising its role in passing Commercial Companies Law amendment which will have a positive impact on the kingdom’s economy.