Ras Al Khaimah Free Trade Zone (RAK FTZ), a key free trade zone in the UAE, announced today (October 24) that 413 new companies registered in the zone during the third quarter of 2011.

The figure was an increase of 38.6 percent compared to the same period last year when 298 companies were registered, a statement from the company said.

The tremendous growth achieved by the free zone is reflected in year-to-date figures with a total of 1,509 companies registered in the period from January to September, compared to 1,173 companies registered in the same period last year, a 28.65 percent year-on-year increase.

According to recently released statistics, licence renewals also showed impressive growth, with 828 licences renewed between July and September, compared to 753 renewals in the same period last year.

A vast majority of the new companies originate from the UAE and India, with other new partners hailing from Afghanistan, France, Netherlands and Pakistan. Together with new registrations, the total number of registered companies operational at RAK FTZ by the end of Q3 2011 has reached in excess of 5,000.

Oussama El Omari, CEO, RAK FTZ, said: “The tremendous increase in new registrations and licence renewals in the third quarter of 2011 reflects investor confidence in our business model. We have always believed in offering a transparent and open door investor-friendly environment at RAK FTZ and this has helped us build our reputation as one of the most attractive investment zones in the region.”

“The fact that this achievement came amidst a volatile business atmosphere, and covered the traditionally slow summer months, is even more commendable. We are thrilled and privileged to be playing a pivotal role in contributing to the economic growth of the emirate, and the UAE as a whole,” he added.

Since the start of 2011, RAK FTZ has focused on powering up its key value-added services for customers through a series of new online and offline marketing initiatives. The free zone is planning to officially launch its ‘Home of Business’ campaign this month, which will supported by a strong publicity drive across the print and radio media. To further reinforce its popularity, the company was a strong participant at the recent Gitex event.

The free zone also plans to host a number of business delegations in the coming months, as well as actively participating in key exhibitions in France, in November. The company also attracted a significant amount of global interest following recognition from fDi Magazine and Financial Times Business where it was ranked the fourth best overall Middle East Free Zone of the Future by in the publication’s 2011-2012 listing. – TradeArabia News Service