RAK FTZ eyes Jordanian companies for investments, collaborations

As part of its strategy to attract investments into Ras Al Khaimah, a top-level delegation from Ras Al Khaimah Free Trade Zone (RAK FTZ), one of the fastest-growing and most cost-effective free trade zones in the UAE, is currently in Jordan on a strategic marketing and sales mission, to network with and raise awareness amongst entrepreneurs in Jordan. 

The RAK FTZ delegation is conducting a three-day road show at Amman InterContinental Hotel in the Jordanian capital from 27 March until 29 March. This road show is aimed at tapping potential investors and companies in the booming Jordanian market and attracting them to set up business in RAK FTZ. 

The RAK FTZ team, headed by Hala Al Zaabi, Director of Sales, held presentations informing potential investors about the salient advantages of setting up business at RAK FTZ. Many interactive consultative meetings were also held with them in Jordan. 

The mission also informed Jordanian businessmen, investors and entrepreneurs about the unique products and services on offer at RAK FTZ. Special investment options were unravelled during the road show, which included information on promotional packages such as Flexi Office, Executive Office and Standard Office with set-up costs ranging from USD 5,000 to USD 10,000. 

In his comments on the huge potential of Jordan, Oussama El Omari, CEO of RAK FTZ, said: “In line with our commitment to pro-investment policies supporting free trade and the entrepreneurial spirit, we are currently organising this road show in Jordan. The country is in the midst of unprecedented growth and we aim to tap into the huge potential of partnership with RAK FTZ. As the most preferred business hub in the entire Middle East, we offer tremendous opportunities for Jordanian companies across various business, trade and industry sectors.” 

He added: “This road show will go a long way in identifying potential partnerships in the short run. We have seen tremendous results from our previous road show in December 2011, in the form of a lot of new registrations. In fact, in 2011, we had a huge spurt in new Jordanian companies joining RAK FTZ – 46 in total. We are confident that this road show will help attract more companies from Jordan to RAK FTZ.” 

Currently, a total of 195 companies from Jordan operate at RAK FTZ, a vast majority of them operating with commercial, general trading and consultancy licences. The road show assumes added significance given the huge potential for cooperation between the two countries. The UAE and Jordanian governments have already inked a free trade agreement as well as a double taxation agreement. 

In 2010, total trade between the UAE and Jordan was reported to be over USD 700 million. It is worth noting that Jordan has witnessed significant growth in its trade activities over the last two years.