Bahrain plans new business licensing system
Manama, December 31, 2013
The pilot phase of Bahrain's Business Licensing Integrated System (BLIS) through which business registry will be handled as a one-stop service was launched yesterday by Industry and Commerce Minister Dr Hassan Fakhro.
The system further simplifies the process of establishing a business in the kingdom, by enabling electronic application and renewal of commercial registrations and related licences, Dr Fakhro said at a Press conference.
It has been designed to optimise the investment climate in Bahrain by using technology to make the country more competitive in attracting foreign investment.
"BLIS aims to simplify the process of business registration, streamline licensing requirements, ensure full transparency of procedures and requirements and enhance co-ordination between all relevant organisations," he added.
The government also intends to further streamline, simplify and increase the efficiency of the process of obtaining commercial registration and all associated business licences.
The project is a central component of the kingdom's initiative to boost Bahrain's competitiveness and enhance its position as a business-friendly destination, reported the Gulf Daily News, our sister publication.
In the future, potential businesspeople in Bahrain will not have to visit several organisations to obtain documents and licences required for the business approval.
The turnkey integrated solution has been developed by Korean firm LG CNS and will be implemented through a partnership with the eGovernment Authority.
With a business scale of approximately $8 million, LG CNS said the system will be fully functional by end of next year. The firm will provide maintenance services after completion.-TradeArabia News Service