Zayed bin Rashid Al-Zayani
Bahrain minister defends CR fees hike
MANAMA, August 22, 2017
Bahrain's Industry, Commerce and Tourism Minister Zayed bin Rashid Al-Zayani has defended the proposed increase in commercial registration (CR) fees saying that the hike will not cause bankruptcy of any business, contrary to online allegations which blow things out of proportion.
Addressing a press conference held at the ministry’s headquarters at the Bahrain Financial Harbour, he said he had discussed with Bahrain Chamber of Commerce and Industry (BCCI) members proposals to streamline the implementation of the CR fees from September 22, a Bahrain News Agency report said.
"The planned CR fees are still under study with BCC officials", he said, adding that other meetings would be held to reach a consensual agreement.
Citing official statistics, he said that the number of CRs which will pay annual fees ranging from BD25 to BD1000 make up 75 per cent of the overall number of commercial registrations.
He said the number of new registrations topped 61,000 in 2016, with overall capital exceeding BD2.2 billion, an increase of 160 per cent.
The minister stressed the importance of a law on bankruptcy which will be issued soon to protect entrepreneurs and owners of small and intermediate enterprises (SMEs).
