Bahrain endorsed a law on Sunday to treat GCC nationals as citizens in running their own businesses .
Except banning them from commercial activities related to pilgrimage and umrah services, publishing newspapers and magazine, running elderly homes, manpower agencies, trade dealership and leasing of lands and building, the law gives the rights to Gulf nationals to pursue all commercial operations as Bahrainis. GCC businessmen could join the banned commercial activities as partners.
The law that was approved by the lower and upper houses and ratified by HM the King expected to further facilitate GCC citizens’ retail and wholesale trade activities. According to the law, GCC citizens could own 100 per cent of the businesses and open one of many shops in different parts of Bahrain. It also treats Gulf nationals equally with Bahrainis in business privileges, rights, fees payment and responsibilities.
The government highlighted that the law is part of a decision taken in GCC summit held in Doha in 2007 and comes to promote Gulf citizens to invest in Bahrain and contribute to the development of many sectors, including retail and wholesale. The government hopes that the new law will help create a better business climate in the country.