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Commerce Chamber: Decision to Raise Register Fees has Serious Consequences on Economy

2017-08-18 - 8:19 p

Bahrain Mirror: The Bahrain Chamber of Commerce and Industry (BCCI) called on the Prime Minister Khalifa bin Salman to intervene to stop the imposing of new fees on commercial registers and end the increase of current fee rates, considering the decision would have "serious consequences".

The BCCI said in a statement that the decision taken by the Ministry of Industry, Trade and Tourism, if implemented, would have serious consequences on the overall economic situation in Bahrain in the foreseeable future, and would lead to the bankruptcy of a large number of institutions, especially the small and medium-sized companies. The BCCI also noted that it would increase the suffering of commercial and industrial enterprises, making them vulnerable to further losses, especially with the current conditions in the region, which has created a state of economic recession in all sectors of economy and trade.

The Bahrain Chamber of Commerce and Industry further emphasized that the current situation cannot endure any new burdens imposed on the private sector, which suffers from a weak local economy and the repercussions thereof, which have affected the private sector's activities, productivity and competitiveness. This was stated in a letter addressed to the Prime Minister, asking him to intervene to stop the decision that was taken without taking the Chamber's views into consideration.

Arabic Version

 


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