Bahrain Begins Setting up Industrial Free Zone
Bahrain is in the process of setting up an industrial free zone and, once approved, would provide efficient service for national and foreign investors who would like to set up ventures there, said the Gulf News.
Daij bin Salman Al Khalifa, the Commerce Ministry's assistant under-secretary for foreign trade and promotion hoped that the Gulf and surrounding markets would provide an opportunity for Bahrain to re-export various products that could be stored and warehoused, said the daily.
Boosting commercial activities as part of an overall economic development program is on top of the priority list in the new era of changes now sweeping Bahrain, especially since the introduction of the National Action Charter.
Bahrain's WTO membership has given the credibility as a country that plays by international rules and regulations. Bahrain is committed to implement all regulations it is obligated to, said the daily, noting that a number of measures have been taken to ensure that Bahrain abides by these rules.
"But what is important is that most of these measures were taken voluntarily and this include the review of commercial laws and regulations. The Commercial Agencies Law which has been passed, is a good step forward in opening up and liberalising the country.
"The Companies Law aimed at simplifying incorporation procedures for companies, both national and international, is being reviewed.
"The ministry is also committed to reduce bureaucracy and red tape, and recently introduced an on-line system for on-line commercial registration for companies. The ministry plans to expand these services for all – Albawaba.com
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