MANAMA: The Kingdom of Bahrain being a trading hub in the region enjoys very strong ties with the Asian traders and businesses and this is a right to further develop this strategic relationship to a next level, according to a leading businessman.
Mohammed Sajid Sheikh, the board member of the Bahrain Chamber of Commerce and Industry and Chairman of the Bahrain Asian Traders Committee (BATC) said the Committee would do everything possible to create a sustainable business climate for the Asian traders and businesses.
Sajid Sheikh along with BATC members called upon the Minister of Commerce and Industry Zayed R Al Zayani and briefed him about the challenges being faced by the Asian traders and businesses.
“We requested the Minister to give a special status to the Asian businessmen who, for example, invest BD one million or more and in return offer them fast track services at the Ministry and the allied government departments. Such special status is being already offered by the Governments of Dubai, Jordan and Lebanon and this initiative in return stir the inward investment activity in line with Bahrain’s Vision 2030,” Sajid Sheikh told The24X7News Bahrain (www.twentyfoursevennews.com).
“The BATC has also brought the issue of five year visa for businesses instead of two years and dependents visa and residency and requirements. Many businessmen face issues of not getting residence permits for their aged parents or dependents’ which is definitely not a positive sign for businesses. The Minister also took a note of the special status or privilege for investors and we hope a positive outcome of this meeting,” he said.
During the meeting, he said, the issues such as revival of ancestral or family businesses, bolstering jewllery business by providing the Asian traders facilities or exemptions which are being offered to other countries will definitely impact positively on the economic development.
“We have cases where 80 or 100 years old CRs have become redundant as no immediate successor approached the authorities and we need to revive such family businesses by helping young generation from these family business houses,” Sajid emphasized by highlighting the BATC’s role in developing ties with Asian economies on various fronts by seizing the opportunities and overcoming the challenges.
He also applauded the Minister’s warm welcome and listening to the BATC suggestions and assuring the Committee for full cooperation.
The Ministry in a statement said that both sides reviewed number of issues and topics in regard to investment activities carried out by Asian Traders in the Kingdom of Bahrain, stressing government’s interest to this important sector and its keenness to provide all the requirement and facilities that will enhance and attract more investments and projects that fall under this sector.
“The Kingdom of Bahrain is proud to have Asian traders sector in Bahrain for their business and the ministry will work hard to overcome all the obstacles that could hinder their way in various commercial and tourist activities,” the Minister said.
Earlier, the BATC held talks with representatives from the 16 Asian embassies and missions in Bahrain at the BCCI premises, which according to Sajid Sheikh concluded on a positive note.
“We have a very healthy feedback from the Asian embassies and the BATC will continue to work closely with all partners to take the status of the Asian businesses to next level.
“The BTAC is organizing a Forum titled ‘Bahrain gateway to the Arabian Gulf’ later this year with a fair representation from Asian countries and total attendance of around 500. The upcoming Conference will further bolster Bahrain’s status as the commercial and trading hub in the region,” he added.