Bahrain has awarded Golden Licenses to four projects worth a combined $3.89bn, including three aviation ventures led by AirAsia parent Capital A and a Meliá hotel and residences development in Amwaj, the Bahrain Economic Development Board (Bahrain EDB) said on November 1.
Two of the four projects are in aviation. Capital A’s ventures aim to add connections to the Far East and Europe, build air cargo capacity in phases and develop aircraft maintenance, repair and overhaul (MRO) work in the kingdom, building on the AirAsia group’s plans for a Bahrain hub. DHL will set up its first and only regional MRO facility at Bahrain International Airport to support its growing fleet.
The tourism project is a waterfront development in Amwaj by Spain’s Meliá Hotels International with Bahraini developer Infracorp, combining a five-star hotel with Meliá-branded residences.
The fourth licence went to Digital City Bahrain, a planned hub for information and communications technology, innovation and education aimed at drawing technology companies to cluster in the kingdom.
The awards were announced at the fourth edition of Gateway Gulf, an invitation-only investment forum held at the Four Seasons Hotel Bahrain Bay on November 1-2 and attended by more than 200 ministers, senior officials, chief executives and investors.
Bahrain EDB did not break down the $3.89bn by project or give timelines. It said non-oil activity accounts for around 86% of Bahrain’s GDP, with flag carrier Gulf Air also adding routes to Asia.
The Golden License is a Bahraini incentive scheme that gives large strategic investment projects priority access to land, fast-tracked approvals and dedicated government support. Bahrain EDB is the government agency responsible for attracting inward investment to the kingdom.
