The Hope Fund, in partnership with Bahrain's Ministry of Industry and Commerce, has announced the launch of the new identity of the HQ Industrial project, which includes a makerspace and an industrial innovation centre, reported BNA.
HQ Industrial is being developed on an area exceeding 53,000 sq ft in Salman Industrial City, which is managed by the Ministry of Industry and Commerce.
It is the largest shared industrial workspace in Bahrain and the kingdom’s first specialised industrial incubator focused on manufacturing, stated the report.
Hope Fund was established in 2020 under the directives of His Majesty King Hamad bin Isa Al Khalifa to support youth projects and initiatives as well as invest and support the dynamism, aspirations and innovations of Bahraini youth to set up and own businesses and companies in order to serve their community and improve their income.
The project provides an integrated support platform for emerging industries and industrial ventures, expanding opportunities for cooperation with local and international partners, and further enhancing Bahrain’s position as a regional hub for industry and innovation.
The announcement for the new identity was made during an official ceremony attended by Abdulla bin Adel Fakhro, Minister of Industry and Commerce; Shaikh Hamad bin Mohammed Al Khalifa, Chairman of the Board of HQ; as well as representatives of the public and private sectors and members of the industrial community.
The event featured a presentation of the project’s new visual identity, along with an overview of its launch and operational plans.
HQ Industrial offers an integrated industrial infrastructure comprising dedicated manufacturing spaces, operational facilities, and support services, in addition to shared industrial workspaces and areas designated for development and innovation, said the BNA report.
Additionally, the project aims to enhance the capabilities of industrial entrepreneurs by supporting product development and strengthening competitiveness in local and regional markets, it stated.
Minister Fakhro said the project constitutes a qualitative addition to the Kingdom of Bahrain’s industrial infrastructure and reflects the ministry’s strategic orientation toward advancing manufacturing capabilities and promoting industrial innovation. The initiative contributes to strengthening the industrial entrepreneurship ecosystem, empowering national talent, supporting economic diversification, and increasing the industrial sector’s contribution to the gross domestic product, it added.
Shaikh Hamad said the unveiling of the new identity represents a significant milestone in the launch of HQ Industrial, highlighting that it embodies the project’s strategic vision and its role in supporting the national industrial sector.
This step underscores a commitment to providing a modern and integrated industrial environment that supports entrepreneurs and industrial projects at various stages of growth while contributing to the development of Bahrain’s manufacturing ecosystem, he added.
The project is considered one of the flagship initiatives aimed at establishing a comprehensive and advanced industrial environment in the Kingdom of Bahrain, stated the report.
It is based on building an innovative industrial ecosystem that supports manufacturing and production, while enabling emerging, small, and medium-sized industrial enterprises to grow and expand within a sustainable and professional framework. The initiative aligns with the objectives of the Industrial Sector Strategy (2022 – 2026), it added.
