RAK Free Trade Zone eyes Indian SMEs
Ras Al Khaimah, December 1, 2010
Ras Al Khaimah Free Trade Zone Authority (RAK FTZ), one of the fastest-growing free trade zones in the UAE, said it aims to attract small and medium sized enterprises from India and 'help them set up business in the fastest and easiest way.'
RAK FTZ said it had recently hosted a top-level media delegation from India as part of its mandate to boost Indian investment in the emirate and also showcase its products and services among Indian companies
RAK FTZ chairman Sheikh Faisal Bin Saqr Al Qasimi, who received the delegation, said, 'We are extremely happy to showcase the world-class facilities and services on offer at RAK FTZ for Indian businesses. India is a strategic market for us, and we are keen to develop it further.'
'The cost-effectiveness of setting up business at RAK FTZ, coupled with value-added services and easy access to neighbouring markets, provides advantages that are unmatched in the region,' he noted.
During the media-familiarisation visit, RAK FTZ’s top management showcased the key facilities and services on offer, highlighting the salient advantages for Indian businesses in setting up operations at the free zone.
The visitors were also briefed on the Indian companies operating at RAK FTZ and the burgeoning trade relations between the UAE and India.
Sheikh Faisal urged Indian businesses to take advantage of the close trade ties between the UAE and India.
He briefed the media on the strategic steps undertaken by RAK FTZ amidst the global economic upheavals, investment opportunities on offer at RAK FTZ, future plans, and industries operating at the zone, as well as the tourism potential RAK holds.
He also highlighted the key features of the Maintenance Repair and Overhaul [MRO] Centre at the RAK FTZ Aviation Park.
In his comments, Oussama El Omari, CEO of RAK FTZ, said: “Since our inception, almost 2,000 Indian companies have set up operations here. Given the huge investment potential, we were happy to showcase our unique facilities and services to key media representatives from India.'
“As we celebrate our 10th anniversary this year, we are looking to strengthen our positioning as a business hub geared at helping SMEs connect to emerging market economies. India is an emerging economic power, which deserves special attention and focus,' he stated.
'Our location is very strategic, especially for those who wish to expand not only in the UAE but also to the rest of the Middle East and North Africa; so we definitely see vast potential in any future cooperation that may arise out of this visit,” El Omari added.
Reiterating the importance the Indian market, RAK FTZ currently operates a promotion office in Mumbai, India. This media visit to the RAK was organised by that office and spearheaded by Bissoon Duthsingh Surnam, regional manager – India.
RAK Free Trade Zone is also working closely with Mana Sultan Al Suwaidi, UAE Commercial Attaché to India, and the Ministry of Foreign Trade for promotions and marketing initiatives in India.
During the visit, the media representatives were also given a tour of the new developments in RAK, including the Dh850 million WOW RAK Ice Land, Water Theme Park (managed by an Indian company); Mina Al Arab projects; and Al Hamra Area, as well as the Business Park, Industrial Park, Technology Park and Academy Zone being developed by RAK FTZ.
The visit also included a tour of the Indian companies with warehouse facilities at the Technology and Industrial Parks.
The delegation comprised representatives from top newspapers and television channels from India, including The Times of India, The Financial Express, Malayala Manorama, Press Trust of India, Hindu Business Line, Financial Chronicle, UNI TV, RPR, Zee Network TV and Zee Business TV.-TradeArabia News Service