With over 1700 licenses issued in the year 2009, Ras Al Khaimah Investment Authority (RAKIA) looks forward for a very successful business year 2010

Published March 28th, 2010 - 06:45 GMT

Ras Al Khaimah Investment Authority (RAKIA), a major provider of investment opportunities and one-stop solutions in its Free Zones, Industrial Parks and Offshore facilities as well as in Real Estate developments and other ventures, has announced that 2009 was a prosperous year with 880 onshore and 885 offshore licences issued.

In terms of the onshore licences, 35% were achieved in the 4th quarter alone, when considerable growth was observed, which from the January and February 2010 results is expected to continue. The investment attracted came mainly from UAE (14%), Middle East (15%), Europe (24%), India (26%), Asia (9%), US and CIS countries.

RAKIA offers a one-stop approach for different types of licences and business requirements. It can cater to free zone and non-free zone licences, on- and offshore, for all types of businesses. Investors can lease land to build their own facilities – be it factories, warehouses, offices or all together – or rent office facilities at RAKIA’s Amenities Centre.

The Authority recently introduced a concept of zoning for its industrial parks so as to provide bespoke infrastructure and utilities at minimal cost and satisfy the needs of the various industrial sectors, complementing each other and benefiting from mutual synergies, ultimately enabling them to be competitive in their market.

Dr. Khater Massaad, CEO, RAKIA, stated: “The sky is the limit when it comes to the opportunities investors can choose from in Ras Al Khaimah and RAKIA’s Free Zones and Industrial Parks. The visionary leadership of H.H. Sheikh Saud Bin Saqr Al Qasimi, Crowne Prince and Deputy Ruler of Ras Al Khaimah, allows very favourable conditions for setting up a business here. The procedures are clear and easy, licences can be issued in one hour’s time, without hassle or bureaucracy. Personalised and flexible service is very important for us; we constantly strive to fulfil all our customers’ business requirements in the best possible way. In doing so, our well-established network and long lasting experience are a big plus our customers can benefit from. One further advantage of RAKIA Free Zone is the competitive rates, which are constantly revised to reflect our vision in attracting businesses and supporting them to succeed.”

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