Bahrain’s labour fund Tamkeen has signed a deal with Bell Racing Helmets International to support the firm’s factory located near the Bahrain International Circuit.

 

The agreement is a part of Tamkeen’s investment support programme, which is organized in collaboration with several government agencies, including the Bahrain Economic Development Board, to develop and encourage foreign direct investment in the kingdom, said a statement.

 

It follows the approval of plans to start production in the factory this year, which houses production, and research and development facilities.

 

Under the agreement, Tamkeen will provide its support for Bell in the form of a grant over a period of five years, on condition that the company implements specific tasks, including the employment and training of 50 Bahrainis.

 

Shaikh Mohammed bin Essa Al Khalifa, chairman and acting chief executive officer, said: “The signing of the agreement with Bell Racing Helmets International is part of Tamkeen’s efforts to support the private sector and serve as the engine for economic development. 

 

“Supporting foreign direct investment is key to mobilising growth and expansion in the Kingdom, as these investments play a vital role in continuously attracting other investments.”

 

Stephane Cohen, chairman of Bell Racing Helmets International, said: “Bell Auto Racing Helmets is pleased to sign this agreement with Tamkeen to expand our operations. Our studies have indicated that due to a number of factors, Bahrain constitutes an excellent and strategic location to market and produce our products, which require high precision in manufacturing and very specific international standards.”

 

Bell Auto Racing Helmets is a company specialising in manufacturing helmets for auto racing, from karting to Formula One, said the statement. 

 

The high technology helmets produced by this world’s leading company are used by amateurs and top professionals, including Kimi Raikkonen and Lewis Hamilton. – TradeArabia News Service