The United Nations Industrial Development Organisation (Unido) and Kuwait Finance House (KFH) have signed a MoU to develop investment and technology transfer in clean industries, renewable energies and science parks on a global scale.

The signing ceremony was organised as an integral part of the International Forum on Cleaner Technologies Forum for Economic Development held in Bahrain.

The MoU targets three main objectives. This includes identifying mutual synergies and roles regarding the promotion and commercialisation of science and technology parks worldwide as vehicles for technology transfer and industrial development.

It will also evaluate the possibility of establishing a technology fund to invest in sectors such as clean technologies, marine technologies and water technologies and co-operate on the Unido Green Industry Initiative.

The importance of the MoU is that it will create an intuitional base for Unido and KFH to work jointly in developing investments into this sector.

The MoU follows in line with Unido's strategy in Bahrain and the to promote and stimulate the private sector, governments and financial institutions to embark on investing in green technologies and renewable energy.

KFH and Unido also share the same strategic vision towards facilitating technology transfer to the Arab region through the development of science and technology parks that are being established by KFH.-TradeArabia News Service