HRH Premier issues two edicts

Manama, Oct. 2 (BNA): His Royal Highness Prime Minister Prince Khalifa bin Salman Al Khalifa has issued edicts 49 and 50/2016. Edict 49 allows companies with foreign capital to undertake some commercial activities, outlined in a list attached to the edict, with an ownership of 100%. Edict 50 allows companies with foreign capital to undertake some commercial activities, highlighted in a list attached to the edict, with 49% ownership. The two edicts will be subject to the provisions of Article 345, Paragraph A, of the Commercial Companies Law promulgated by Decree-Law 21/2001. The Minister of Industry, Commerce and Tourism, and ministers –each in their capacity- shall implement the two edicts which will be effective the day after their publication in the Official Gazette.