The Ras Al Khaimah Free Trade Zone (RAK FTZ) recently received a high profile media delegation, visiting Ras Al Khaimah from Germany to explore the emirateâ€™s business and tourism environment and understand its competitiveness in the region.
Oussama El Omari, CEO of RAK FTZ, welcomed the delegates and showed appreciation for their interest in supporting Ras Al Khaimah’s efforts to promote a stronger business relationship with Germany. El Omari highlighted that the visits of various media delegations to RAK FTZ have played a fundamental role in helping the zone to penetrate and expand in international markets like Europe. RAK FTZ was awarded the title the leading Emerging Free zone in the region for the second year and has succeeded in registering almost 5000 companies including 210 German companies.
â€œIt was our pleasure to host the German media delegation to Ras Al Khaimah. We are very proud of our home, and it was a chance for them to see firsthand why RAK FTZ is highly competitive in the global market,â€ he said.
Europe is an important market which comprises 31% of the zoneâ€™s clientele. This year alone, the RAK FTZ â€“ through its office in Cologne â€“ registered 60 companies.
Nadia Rinawi, RAK FTZâ€™s regional manager for Germany, who was responsible for organizing the visit, accompanied the delegation on their tour of the emirate and RAK FTZ, introducing the various opportunities that the zone offers and explaining its competitive advantages, including 100% tax exemption and 100% foreign ownership. RAK FTZ also offers transparent laws and regulations, no restrictions on capital and profit repatriation, a strategic location with close proximity to Dubai, state-of-the-art communication facilities, and easy access to Ras Al Khaimah International Airport and a sea port.
The delegation, representing Focus, Capital and Handelsblatt publications, were joined by representatives from the Consulate of Germany, German Industry and Commerce Office (AHK Dubai), and management representatives from some of the German companies registered at RAK FTZ, including German Label, Techlead,Â and RAK German Engineering FZC, for a lunch hosted by RAK FTZ at Tower Links Golf Club.
The German media delegation also had the opportunity to interview H. H. Sheikh Faisal bin Saqr Al Qassimi, RAK FTZ Chairman and head of Ras Al Khaimahâ€™s Finance Department, on issues regarding the future of the emirate’s tourism industry and his vision for RAK.
The two-day visit culminated in a tour of the zoneâ€™s state-of-the-art facilities and excellent infrastructure at the Business and Technology Parks, followed by a city tour, dhow cruise, and mountain safari to showcase the beautiful scenery that makes Ras Al Khaimah a prime tourist destination.
The delegation was very impressed with what they have seen at RAK FTZ and Ras Al Khaimah in general including the upcoming projects in the emirate.Â They all left with a positive impression of Ras Al Khaimah and expressed their willingness to visit the emirate again.
Ras Al Khaimah Free Trade Zone (RAK FTZ) is a world-class business hub and a vehicle for industrial growth and development. The free zone, with its cutting-edge technology and keen customer focus, offers on-demand and custom-built support services to investors in a cost-effective and flexible environment. The Free Zone also offers a range of unique services which include the legal, human resources and marketing assistance.
The Free Trade Zone has created a system of four Parks â€“ Business Park, Industrial Park, Technology Park and Al Ghayl Industrial Parkâ€“ which offer identical advantages and benefits to investors. Backed by legislations allowing 100 per cent foreign ownership, tax-free environment, transparent laws and 100 per capital and profit repatriation, the free trade zone is well-positioned for global commerce.
Ras Al Khaimah Free Trade Zone is one of the fastest growing free trade zones, with more than 4,700 companies from 106 countries around the globe.