*** Foreign investment in logistics sector okayed | THE DAILY TRIBUNE | KINGDOM OF BAHRAIN

Foreign investment in logistics sector okayed

Prime Minister HRH Prince Khalifa bin Salman Al Khalifa chaired the weekly Cabinet meeting at Gudaibiya Palace yesterday. 

The session was also attended by Crown Prince, Deputy Supreme Commander and First Deputy Premier HRH Prince Salman bin Hamad Al Khalifa.

On investments, the Cabinet approved a number of procedures to encourage foreign investment in the logistics services sector and open doors for foreign companies to invest in this field. Under the scheme, included in a memorandum presented by the Minister of Industry, Commerce and Tourism, foreign companies will be allowed to fully own the packaging activities that include delivery beyond the shipping docks to reach the final destination.

A new logistics service activity, called “re-exportation and value-added logistics services”, will be created and foreign companies will also be allowed 100 per cent ownership in it.

Foreign companies will also be allowed to own 49pc of the activities of the shipping company agents, and the land, sea and air freight agents.