Oussama El Omari, CEO of RAK FTZ
The Ras Al Khaimah Free Trade Zone – one of the fastest-growing and most cost-effective free trade zones in the UAE – today announced that 574 new companies have registered in the second quarter of 2011, thus reinforcing the tremendous growth achieved by the Free Zone this year.
As per statistics issued, a total of 1068 new companies registered in the January-June period of 2011, compared to 835 companies registered in the same period last year, thus achieving a significant 30% year-on-year increase albeit the economic crisis the world is currently experiencing.
The RAK FTZ also announced that it has a 4% increase in the second quarter over the total revenues registered in Q1 of 2011. The phenomenal growth in new registrations and the revenue increase achieved in the extremely challenging economic environment in the region (Arab Spring), reflects the world-class standards, facilities and services on offer at the RAK FTZ.
The maximum numbers of new companies are from India, UAE, United Kingdom, Egypt, Pakistan, Germany, United States, France, Canada and Turkey. With the new entrants, the total number of registered companies operational at RAK FTZ by the end of Q2 of 2011 is over 5000. Main activities of the new companies that registered in the free zone in Q2 are trading, consultancy and services, industrial and commercial.
In his comments, Oussama El Omari, CEO of RAK FTZ, said: “The enviable growth achieved in new registrations this year is a testimony to our reputation as one of the most attractive investment zones in the region. RAK FTZ has enjoyed a steady increase in its client base since it was born 10 years because of its continued diligence to keep abreast of the needs of investors. Another crucial success factor of the free zone is the government empowerment under HH Sheikh Saud bin Saqr Al Qasimi, UAE Supreme Council Member and Ruler of Ras Al Khaimah and the guidance of HH Sheikh Faisal bin Saqr Al Qasimi as RAK FTZ Chairman. These significant growths in these challenging economic times reflect the investors’ confidence in our transparent, business-friendly environment.”
“We are not going to rest on our laurels, and by the end of 2011, we will be well on course towards a new record in company registrations and growth. Moreover, with some leading companies from across the globe making their beeline to RAK FTZ, we are eventually contributing to the economic growth of RAK and the UAE as a whole,” added El Omari.
Since the start of 2011, RAK FTZ has focused on powering up its key value-added services and ‘know your clients’ principles (KYC) through online and offline marketing initiatives. To further build on its popularity, RAK FTZ also plans to participate in GITEX - the leading ICT exhibition, and Big 5 – the largest building and construction exhibition, to be held in Dubai later this year.
With optimistic plans to assist and encourage entrepreneurs, the multi-award winning RAK FTZ will continue to live up to its reputation as the ‘Home of Business’.