German delegation visits RAK FTZ

Sheikh Faisal reviewed with the delegation the bilateral relations between Ras Al Khaimah and Germany and discussed ways to further bolster mutual cooperation. Sheikh Faisal said: "The Government of Ras Al Khaimah implements pro-investment policies which are firmly rooted in the principles of free trade and in promoting entrepreneurship. The emirate of Ras Al Khaimah offers tremendous opportunities for German investors in diverse sectors." Sheikh Faisal stressed that the emirates of Ras Al Khaimah will exert all the possible effort to enhance the relationships between the two sides. He said the (RAK FTZ) which is the most developing free zone, has been attracting more companies from around the world, and mainly from Germany.

The increasing number of German companies getting registered with the RAK FTZ is a clear indication to the strong business cooperation between Ras Al Khaimah and Germany. There has been a 38 per cent jump in the number of German companies registering at the zone during the ongoing year compared to the figures of the previous year.

The visit of the German business delegation reflects the advanced bilateral relationships between Germany and the RAK FTZ which has taken part in many German fairs, last of which was "the 9th Arab-German Economic Convention" in Berlin. The RAK FTZ had attracted major German companies to invest with the zone and start new bases here.

The latest German company to register with the RAK FTZ was InnoVida Holdings Inc which has recently launched its activities in the zone to introduce state-of-the-art ready made homes. InnoVida Holdings Inc announced it will invest Dhs 40 millions to establish a manufacturing plant at RAK FTZ to end up housing time and cost efficient.

Maryam Al Murshidi, the Assistant Director of RAK FTZ introduced the German business delegation to the unique services and facilities the zone provides its clients. She said the facilities are designed to suit all types of industrial, IT and services investments. Members of the German business delegation said that there was huge potential to further develop and consolidate commercial ties between Ras Al Khaimah and Germany.