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His Majesty King Hamad’s representative for humanitarian work and youth affairs and Supreme Council for Youth and Sport (SCYS) chairman Shaikh Nasser bin Hamad Al Khalifa witnessed the signing of the letter of intent for a strategic partnership between the Industry and Commerce Ministry and Hope Ventures to establish a makerspace and an industrial innovation centre in Salman Industrial City, Al Hidd.
The letter was signed by Hope Ventures chairman Shaikh Hamad bin Mohammed Al Khalifa and Industry and Commerce Minister Abdulla bin Adel Fakhro.
SCYS secretary general and Hope Fund chairman Ayman Almoayyed was present on the occasion.
Shaikh Nasser emphasised that 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.
Shaikh Nasser with Shaikh Hamad, Mr Fakhro and Mr Almoayyed at the event
He 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 (2022-26) 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 Industry and Commerce Minister 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 towards a knowledge-based economy.
On his part, Shaikh Hamad expressed pride in this partnership with the Industry and Commerce Ministry, 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.
He 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 metres and will include spaces for light manufacturing, logistics services, creative workspaces, co-working areas, administrative offices, training facilities, and other services.
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