Ras Al Khaimah Investment Authority (RAKIA), the nodal Government body responsible for the socio-economic growth of the Emirate, has today (Thursday, November 15, 2007) inaugurated a new state-of-the-art Business Centre that has been established to provide business setup-support for the growing number of companies based in the Emirate’s free zones and industrial zones.
The multi-million Dirham Centre, which has the capacity to incorporate up to 50 new companies initially, provides administrative support to promote the establishment of new businesses. The Business Centre’s commercial premises incorporate executive offices in various sizes, as well as shared offices and flexi desks, meeting and conference rooms and modern office support facilities.
“The number of companies based in Ras Al Khaimah is growing exponentially, which prompted our decision to establish a modern Business Centre right at the heart of this rapid development. By creating an appealing environment for companies, we are complementing the governments remarkable vision and efforts to create a pro-business , environment and ensuring long-term investments, infrastructure development and employment opportunities in the Emirate,” said Dr. Khater Massaad , CEO of RAKIA.
“With its proximity to Dubai and good connectivity, Ras Al Khaimah is quickly developing a reputation as one of the hottest investment destinations in the region, and as a tranquil and affordable place to live and work within the UAE,” added Dr. Massaad.
RAKIA is at the forefront of the Ras Al Khaimah Government’s initiatives to diversify the economy, and is responsible for promoting the development of the Industrial Zone and the Free Zone in Al Hamra, and the Industrial Park in Al Ghayl. Since its inception two years ago, the Investment Authority has successfully attracted almost USD 2.0 billion worth of investments from all over the world, across a broad range of industrial sectors.
During the first quarter of 2007, the Authority registered a 200 per cent growth in the number of companies registered, to take the total number of firms to more than 1000, - making RAKIA one of the fastest growing Freezone \ Industrial zone organization in the MENA region. Similarly, in the third quarter of 2007, RAKIA has attracted 217 additional companies to Ras Al Khaimah, representing an increase of 23 per cent over the previous quarter.
