Industry Minister praises edict on regulating minors' commercial activities

Manama, Jun. 2 (BNA): Minister of Industry, Commerce and Tourism, Zayed bin Rashid Al-Zayani, has lauded the issuance of an edict on regulating 18-year-old minors’ establishment of commercial companies. The edict is in line with the visions and directives of His Majesty King Hamad bin Isa Al Khalifa, His Royal Highness Prime Minister Prince Khalifa bin Salman Al Khalifa and His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince, Deputy Supreme Commander and First Deputy Premier, to invest in Bahraini youth, being the real assets of the future. The edict is also consistent with the initiatives launched HM the King’s Representative for Charity Work and Youth Affairs and Chairman of the Supreme Council for Youth and Sports, HH Shaikh Nasser bin Hamad Al Khalifa, during the Youth Summit 2018, as part of the national programme to develop the youth and sports sector, “Istijabah” (Response), he said. The minister asserted that the edict aims to increase youth’s presence in the commercial, industrial and investment fields. The Industry Minister stressed that the all initiatives being examined by the SMEs Development Council, within its five-year plan 2018-2023, fall within the government’s policies to diversify sources of income and support non-oil economy, in line with the Economic Vision for Bahrain 2030. It is to be noted that Minister of Justice, Islamic Affairs and Endowments, and Chairman of the Council of Guardianship on the Money of the Minors and their Equivalents, Shaikh Khalid bin Ali Al Khalifa, issued Edict 40/2019 regulating 18-year-old minors’ establishment of commercial companies. The edict is expected to reflect positively on Bahraini youth, as it will enable them to enter the labour market, and to set up their own companies, in accordance with advanced laws and regulations.