Bahrain is looking to tap into China’s growing investment market by signing a number of memorandums of understanding (MoUs) following a recent trade delegation’s visit to Shenzhen.
The trade trip was organised by the Bahrain Economic Development Board (EDB) and led by capital governor Sheikh Hisham Bin Abdulrahman Al Khalifa.
Among the MoUs is one between the EDB and Softbank China Capital to encourage the fund to set up a presence in Bahrain and use it as a regional hub for the Mena market.
Another MoU struck by the EDB is with Chinese fintech company IAPPAY to develop a mobile payment gateway, establish a fintech fund and explore the viability of cryptocurrency projects.
Fintech is also the focus of another of the MoUs signed by the EDB with the Chinese artificial intelligence (AI) firm Intellifusion, from which Bahrain is hoping to establish an AI institute in the kingdom.
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