US Embassy, AmCham discuss Bahrain’s new business laws

Bahrain’s new commercial legislation demonstrates its “commitment to attract entrepreneurs, promote the private sector, and improve the commercial legal framework existing in the country,” said US Ambassador Justin Siberell. Speaking during a luncheon and panel discussion on Bahrain’s new business laws, the US Ambassador said that the discussion and the ideas and partnerships that it will form today “will serve to improve our joint efforts, as government representatives, to provide the private sector what it needs.”

The event was organised by the American Chamber of Commerce in Bahrain (AmCham) in cooperation with the US Embassy and the Commercial Law Development Program (CLDP). President of the American Chamber of Commerce in Bahrain (AmCham) Qays Zu’bi said: “The aim here is to get a better understanding of these laws to provide further confidence to businesses venturing into new sectors and at the same time making business easier.”

Bankruptcy Restructuring Law, Electronic Transactions Law, Electronic Transferable Records, Data Protection Law, and SME Procurement Law were discussed during the meeting. Arezo Yazd from the Commercial Law Development Programme (CLDP) said the new commercial laws in Bahrain will enable the business environment for all companies, both small and large. “By enabling the legal environment in Bahrain, CLDP hopes to sustain economic growth and development for years to come.”