Manama: In the presence of His Highness Shaikh Nasser bin Hamad Al Khalifa, the Ministry of Industry and Commerce and Hope Ventures have signed a letter of intent for a strategic partnership. This agreement aims to establish a makerspace and industrial innovation centre in Salman Industrial City, Al Hidd.
According to Bahrain News Agency, the signing was attended by Shaikh Hamad bin Mohammed Al Khalifa, Chairman of the Board of Directors of Hope Ventures, and Abdulla bin Adel Fakhro, Minister of Industry and Commerce. Aymen bin Tawfeeq Almoayed, Secretary General of the Supreme Council for Youth and Sports and Chairman of the Board of Directors of Hope Fund, was also present.
HH Shaikh Nasser bin Hamad emphasized Bahrain's commitment to initiatives that empower youth across sectors, highlighting this project's role in fostering ambition, creativity, and innovation among young people. He commended the effort to create an ecosystem supportive of youth development and their crucial role in the nation's future.
The project is aligned with the Industrial Sector Strategy (2022-2026), focusing on supporting small and medium industries (SMEs) and fostering an environment conducive to industrial research and innovation. The Minister of Industry and Commerce described this initiative as a strategic step in implementing the Industrial Sector Strategy, providing direct support to SMEs and promoting an innovative and research-driven environment.
Shaikh Hamad bin Mohammed expressed pride in the partnership, reaffirming Hope Ventures' commitment to nurturing a supportive environment for Bahraini youth and empowering them to influence the future of the national industry through innovation. He highlighted the company's efforts to develop sustainable initiatives that elevate the competitiveness of Bahraini industries.
The forthcoming centre will span over 57,000 square meters and feature facilities for light manufacturing, logistics, creative workspaces, co-working areas, administrative offices, and training facilities, among other services.