Ras Al Khaimah is quite upbeat about increasing its partnership with Indian entrepreneurs. The first and only free zone with international Business and Investment offices in India, Rak Free Trade Zone acts as gateway to the new emerging markets of the Middle East and Africa, (linking) Iraq –Nigeria –Kenya/Tanzania making it most attractive investment destination for Indian companies. The low business costs ie up to 50% lower costs than in other emirates for warehouse and land lease making it the preferred choice for business.
CEO of Rak Free Trade Zone Peter fort told ,” India has been a very important and strategic market for RAK FTZ and its clients, Overseas Investment and Services is a strategic step forward in our trade relations. We are working on a wide range of opportunities for closer business relations and multiple areas of mutually beneficial cooperation with Indian investors”
The 2157 square km free trade zone has witness a massive growth in its companies’ registration and India has a sizable market share among all. Most of them represent SME sector who are looking to foster 2 tier growth beyond territorial boundaries. At present around 2700 companies are registered from India at Rak Free Trade zone.
It is a matter of immense pride that RAK FTZ has achieved such an exceptional growth. That this growth comes amidst the prevalent challenging economic order reflects the investor confidence in our business model and re‐emphasises the world‐class standards, facilities and services on offer at RAK FTZ. Since our inception over a decade ago, we have believed in an open door economic development policy, which has gone a long way in gaining investor confidence from across the globe. We have helped Ras Al Khaimah grow by welcoming new sectors and companies from various parts of the world, which has provided a major impetus to the capital investment into the emirate.
He added: “The environment to grow and flourish has become a hallmark of RAK FTZ and is most admired by its investors, and this is reflected in the high number of license renewals.
Mr Bissoon Surnam, Head – RAK Free Trade Zone Office in India - said, “Coming together, RAK Free Trade Zone and Indian investors are setting up the finest example of entrepreneurship beyond boundaries. The state-of-the-art set up and facilities available at RAK FTZ (around an hour drive from Dubai) and the brilliant Indian mindsets and entrepreneurs skills are creating a perfect harmony and wealth for both the economies. The synergy between RAK FTZ and Indian Investors has already been proved, this and day by day, it is going up”.
He added “RAK FTZ platform, well known as The Cost-Effective Investment & Business Friendly Destination in UAE, provides a golden opportunity for the Indian business community to have a base of operation in the United Arab Emirates and hence, enable them to grow their business by tapping on the excellent business opportunities coming up in the Middle East & North Africa region. RAK Free Trade Zone ranks high on the agenda of the Indian business community who are looking at having a company set-up in UAE as part of their expansion plan overseas in the Middle East. Through the RAK FTZ India Office (Mumbai), Mr Surnam, assured the Indian businessmen of a hands-on approach and a professional service in helping them to incorporate their company in our Free Trade Zone. All the documents in this regard can be processed at the India Office itself without any obligation for the businessmen to go to UAE for this purpose thus saving them on time and costs.
RAK FTZ has a firm focus on Small and Medium‐sized Enterprises (SMEs), which is reflected in the industries being represented at the free zone. RAK FTZ provides a range of business set‐up solutions that cater to the needs of the different types of clients. It offers many aspiring entrepreneurs and business owners’ ideal solutions to enter the Middle East market. In fact, our economic model has helped small and medium businesses to grow even during the downturn. The fact that they also have smaller operational costs and the potential to grow has made it easier for them to weather the downturn
The free zone is extremely bullish about the growth potential on offer in 2013 and beyond. “We are also focusing on researches and studies on how to improve the processes and share the best practices, especially with the other free zones around the globe,” added Peter
For the next phase, RAK Free Trade Zone’s strategy is to attract industrial and service companies that will trigger and aid the development of basic infrastructure and services in the emirate. RAK FTZ is encouraging various companies interested in public-private partnerships with the free zone to set up projects in the airport, seaport, tourism and education sectors.
Besides industries, tourism is also key area of expansion in RAK. It is estimated up to 1.2 million visitors will arrive in 2013. Besides, recently opened Waldrof Astoria world most expensive hotels chain, a340 room double tree hotel by Hilton resort and an another 442 rooms crowne plaza scheduled to be opened up by 2015. Al MarjanIslands, the first man-made island project to be developed in RAK .It is a cluster of five coral-shaped islands extending over 2.7 million square metre it will be home to plush waterfront homes, floating villas, hotels, resorts, sporting facilities and commercial areas.
