Printer Friendly

Commercial Registration Portal "Sijilat" launched.

Manama, May 5 (BNA): The Minister of Industry, Commerce and Tourism Zayed bin Rashid Alzayani confirmed that providing a fertile environment for local and foreign investors to establish their businesses is Bahrain's goal, to be one of the leading entrepreneurial countries in the region.

This system came to give the investor the comfort and the ease by relying on the latest application of the International Standard Industrial Classification of All Economic Activities (ISIC), Rev.4 to become the commercial register in the hands of the investor at any time and location of his choice.

This came during a press conference held by the Minister of Industry, Commerce and Tourism on the occasion of the launch of commercial Registration Portal "Sijilat", which was held under the patronage of His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince, Deputy Supreme Commander and First Deputy Premier.

The minister stressed that this patronage reflects the interest of the leadership and the government to enhance the national economy and utilize all potentials and energies available to develop the investment and trade sector.

The minister added that "Bahrain is one of the first countries in the region that investment strongly in the economic and commercial sectors by providing a fertile environment for local and foreign investors."

In the same context, the minister said: "Perhaps some believe that our investment is limited only on the electronic system, but our system constitutes our only interface that reflects a comprehensive and radical change in the way we deal with commercial and companies registration.

"In order to reach the activation of final version of this system, we have changed the commercial and the company law, we have many of the requirements and constraints, and we have cooperate with the ministries and agencies to shortcut registration requirements.

Finally, we separated the activity from CR issuance and move to the latest application of the International Standard Industrial Classification of All Economic Activities (ISIC), Rev.4. in order to facilitate the registration procedures to achieve Bahrain vision 2030 to create free and open economy."

In the press conference that followed the inauguration ceremony, the minister also gave a visual presentation on commercial registration portal "Sijilat" project.

Alzayani confirmed that the project initiatives specifies the separation of the issuance of commercial register of licensing which enables business owners after issuing commercial register to employ Bahraini employees and get commercial register in a short time and foreign investors can get a permit to stay in Bahrain to complete other required procedures.

In regard to re-engineering and organizing government procedures related to commercial licenses, the dispense of a number of documents required to establish a business and develop a performance indicators for all licensed government entities and specify deadline to issue licenses, in addition to establishing a supervisory system to monitor how fast and smooth the procedures of licensed government entities are.

Regarding the re-classification commercial activities, the International Standard Industrial Classification of All Economic Activities (ISIC), Rev.4 has been adopted as an essential reference and reduce the number of commercial activities in the Kingdom of Bahrain from 1854 to 381activity and open the majority of suspended activities and adjust stop procedures.

The launch of commercial Registration Portal "Sijilat" came to find an advanced electronic system in the registration and licensing commercial facilities in the Kingdom of Bahrain. This will contribute the start of business on various global indices and full connectivity with licensed government entities which enable the investor the ease to access the service. The portal operates 24 hours in all days of the week.

A H N

BNA 1815 GMT 2016/05/05

Publishing Rights Reserved to Bahrain News Agency [c] 2003 - 2016 Provided by SyndiGate Media Inc. ( Syndigate.info ).
COPYRIGHT 2016 SyndiGate Media Inc.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2016 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Bahrain News Agency
Geographic Code:7BAHR
Date:May 5, 2016
Words:620
Previous Article:Representatives Council Speaker receives NIHR President, Portuguese ambassador.
Next Article:Large number of visitors attend 'Bahrain Light Festival'.
Topics:

Terms of use | Privacy policy | Copyright © 2020 Farlex, Inc. | Feedback | For webmasters