Bahrain’s Industry Ministry & Hope Ventures Ink Strategic Partnership

His Highness Shaikh Nasser bin Hamad Al Khalifa, Representative of His Majesty the King for Humanitarian Work and Youth Affairs and Chairman of the Supreme Council for Youth and Sports (SCYS), witnessed the signing of the letter of intent for a strategic partnership between the Ministry of Industry and Commerce and Hope Ventures to establish a makerspace and an industrial innovation centre in Salman Industrial City, Al Hidd.

The letter was signed 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, SCYS Secretary General and Chairman of the Board of Directors of Hope Fund, was present.

HH Shaikh Nasser bin Hamad emphasised that the Kingdom of Bahrain remains committed to advancing initiatives that empower and support youth across diverse sectors. He highlighted that the project will support ambition among young people, encouraging creativity and innovation.

HH Shaikh Nasser bin Hamad further commended the project for establishing an integrated and supportive ecosystem for youth development. He underscored the role of the youth, highlighting their determination and perseverance as essential to building a more advanced and prosperous future for the Kingdom.

This project is part of the Industrial Sector Strategy (2022-2026) initiatives, aimed at providing spaces to support small and medium industries (SMEs) and enhance their growth, while creating a supportive and stimulating environment for industrial research, development, and innovation.

The Minister of Industry and Commerce emphasised that this initiative represents a strategic step within the implementation of the Industrial Sector Strategy (2022-2026), as it provides direct support to small and medium industries and helps stimulate an environment of innovation and enhance research and development.

He noted that enabling youth, makers, and innovators to access the necessary resources and appropriate infrastructure is a fundamental pillar for supporting their projects and turning ideas into innovative products, which contributes to developing the national economy and advancing its path toward a knowledge-based economy.

On his part, Shaikh Hamad bin Mohammed expressed pride in this partnership with the Ministry of Industry and Commerce, emphasising Hope Venture’s commitment to creating a supportive and inspiring environment for ambitious Bahraini youth and empowering them in shaping the future of the national industry through embracing innovation concepts and modern technologies.

Shaikh Hamad bin Mohammed added that the company is working to develop sustainable initiatives that meet the aspirations of the new generation and contribute to raising the competitiveness of Bahraini industries at both local and international levels.

The centre will be established over an area exceeding 57,000 square meters and will include spaces for light manufacturing, logistics services, creative workspaces, co-working areas, administrative offices, training facilities, and other services.