MANAMA: A new visa policy that extends visa on arrival facility to nationals of nearly 100 countries has been welcomed by the Economic Development Board (EDB).

The policy, which is to be implemented next year, is a significant development, said the EDB, with the potential to attract more than 2.5 billion people who can now obtain a one-month visa on arrival, with the ability to renew for another three months.

The EDB is a public agency tasked with the responsibility of attracting investment into Bahrain and supporting initiatives that enhance the investment climate in the country.

According to the agency, the move would help to revitalise the national economy.

In particular, the new visa policy will further enable expatriates, who do business in Bahrain, to travel in and out of the kingdom more easily and also boost the tourism industry.

His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince, Deputy Supreme Commander and First Deputy Premier and EDB chairman presented the new visa policy at a Cabinet meeting earlier this week, emphasising that reforms such as this, which support the business environment in the kingdom, will help to continue to attract inward investment and drive forward economic growth and job creation.

“Throughout history, Bahrain’s economic progress has been built on a tradition of openness, based around its role as an established hub for trade and investment,” Transportation Minister and EDB acting chief executive Kamal Ahmed said.

“The new visa policy – one of the most flexible in the region – follows that tradition, enabling citizens from more than 100 countries to enjoy easier and quicker access to the Middle East’s most open economy, as ranked by the Heritage Foundation’s 2014 Index of Economic Freedom.”

The decision to revise the policy was taken based on key trends in the kingdom’s investor base, including a 58 per cent increase in the number of international investors who own businesses in Bahrain, 50pc rise in Arab investors and 17pc in non-residence equity owners, as seen between 2005 and 2012.

The UNCTAD World Investment Report 2014, released last month, found that total foreign direct investment into Bahrain had increased 11pc to $989 million last year, outpacing the global average growth of 9pc.

Under the new policy, entry visas will be issued to visitors from 13 EU and 15 South American countries, which have been added to 38 West European states having excellent diplomatic relations with Bahrain.

The session endorsed a second proposal enabling visitors from 102 countries to apply for e-entry visas online – up from 38.

Under a third proposal, return visas will be issued to all countries, starting next year.

A proposal to increase the validity of the visas from two to four weeks, renewable for three months, for all nationalities was also approved.