As part of its efforts to support investment and development of enterprises and businesses, Tamkeen recently signed an agreement with Bell Racing Helmets International to support the company’s factory located near the Bahrain International Circuit.
Tamkeen signed the agreement after the company approved plans to start production in the factory this year, which houses state-of-the-art production and research & development facilities.
The decision also comes after Bell Racing Helmet’s decision to relocate its executive office to Bahrain to become the new worldwide headquarters of the company.
The agreement comes as part of Tamkeen’s investment support programme, which is organised in collaboration with several government agencies, including the Bahrain Economic Development Board, to develop and encourage foreign direct investment in the Kingdom.
Under the agreement, Tamkeen will provide its support for Bell in the form of a grant over a period of 5 years, on condition that the company implements specific tasks, including the employment and training of 50 Bahrainis.
Commenting on the agreement, Tamkeen Chairman and Acting CEO H.E. Shaikh Mohammed bin Essa Al Khalifa 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.”
For his part, Mr. 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. High technology helmets produced by this world’s leading company are used by amateurs and top professionals, including Kimi Raikkonen and Lewis Hamilton.