RAK FTZ attracts various investments

The credit for this success solely goes to the zone's new strategy of international marketing campaigns.

A (RAK FTZ) delegation presided by Maryam Al Shehhi, the zone's Assistant Director introduced top business people and ambassadors to the investment opportunities in Ras Al Khaimah during the "10th International Conference of E-commerce & Investment Opportunities in Islamic Countries" held in Tehran.

The presentation introduced the attendees to the ideal and uncompetitive facilities provided by the (RAK FTZ) to its registered companies which enjoy a comprehensive investment environment. Al Shehhi also shed light on some of the emirate's key projects carried currently which enable Ras Al Khaimah to occupy a prestigious place on the international investment map.

The zone's stand at the "9th German - Arab Business Forum" witnessed an unprecedented number of German business visitors interested in investment in the UAE.

Highlighting the importance of this particular forum, Oussama El Omari, the CEO of the (RAK FTZ) said "This gathering does not only introduce the business people to the investment opportunities, but it also gives us the chance to exchange ideas and expertise with the other delegations to enhance cooperation between the participating countries".

The number of German companies registered at the (RAK FTZ) so far (2006) increased by 38 per cent compared to the figures of the previous year (2005).

(RAK FTZ) is also keen to attract more Turkish investments into Ras Al Khaimah following an initial ground breaking success in registering some major Turkish companies at the zone. El Omari said "The zone will open a new promotion office in Istanbul next year to enhance the bilateral economic cooperation". He explained that during the latest "UAE Trade Fair in Turkey"

He added: "Turkey is becoming an increasingly important market for attracting new investment to the free zone and this fair proved very fruitful. We managed to partner with some Turkish businesses keen to benefit from RAK FTZ's high quality facilities and services and extend their business interests to this region. Such events open up business opportunities for both countries"

The Turkish investments in the (RAK FTZ) increased by 30 per cent in the last couple of years. The official reports state that UAE is Turkey's biggest market in the Gulf region, where the Turkish exports to the UAE exceeded $ 6.1 billions last year, whereas these exports were at the value of $ 315 millions in the year 2000.

In line with the visit of the zone's delegation to Jordan, the (RAK FTZ) actively participated at "Buildex" and organized on the fair's sidelines a major road show that was attended by more than 250 Arab business people who were thoroughly introduced to the investment opportunities in Ras Al Khaimah.

The delegation's mission in Jordan was exceptionally successful, thanks to the UAE Embassy in Amman which provided the delegation with all the necessary support to enhance the bilateral relationships between the UAE and Jordan.

El Omari said the number of companies of different nationalities lining up to register at the RAK FTZ has at least doubled since last September. He added that the zone's strategy of the abroad marketing campaigns has brilliantly introduced the RAK FTZ as a major international investment destination. "The number of companies registered at the zone by the end of this year is expected to surpass the target and go beyond the zone's plan" he said.