Bahrain Economic Development Board signs two MoUs

Manama : Bahrain Economic Development Board (EDB) signed two MoUs with Galaxy Institute for Innovation and Entrepreneurship and Huawei Technologies Bahrain.

The MoU signed with Galaxy Institute aims to promote cooperation with EDB through exploring opportunities for establishing incubators in Bahrain and joint business forums. It will also include establishing a Galaxy Institute for financial funds in partnership with Bahraini companies to support entrepreneurship in Bahrain and China.

Under the MoU, the EDB and the institute will also exchange ideas on innovation, as well as the legislation and planning around entrepreneurship-related laws and regulations.

The MoU signed with Huawei looks at opportunities to expand the ICT sector in the Kingdom.

Additionally, the MoU provides a framework from which the parties can implement a strategic plan to develop the human capital in Bahrain and the possibility of cooperating with official authorities in technological solutions presented by Huawei.