Wamda: Bahrain's push for legal reforms will bring a welcome boost to entrepreneurs
Dubai, UAE, October 17, 2018: Wamda Capital, the MENA region's leading venture capital firm, has welcomed the four new laws set to be implemented in Bahrain in the coming months. The reforms, which include a personal data protection law, bankruptcy law, competition law and healthcare insurance law, aim to enhance the country’s investment ecosystem.
Walid Faza, Partner at Wamda Capital, says the new laws will also provide a welcome boost to entrepreneurs in the country. 'We're always impressed by the variety of different startups and companies that we see in Bahrain. The country has the ability to attract startups from around the globe thanks to its great events, entrepreneurial initiatives, friendly business environment and its proximity to Saudi Arabia.
“The new legislative reforms represent a major milestone that shows the determination of the Bahraini Government to attract greater levels of investment by creating favourable, sound and sustainable business conditions. For entrepreneurs, being able to mitigate the risk of having to file for bankruptcy means they can innovate without the fear of failure.
“Increased foreign investment will also bring in more experience, information and technical know-how that will enrich and positively impact the local startup scene. This will also provide wider opportunities for startups to grow, and collaborate with key players in the ecosystem.'
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