RAKIA to offer appealing investment opportunities

DUBAI — The Ras Al Khaimah Investment Authority, or RAKIA, is presenting attractive investment options for technology companies at GITEX 2010.

By Abdul Basit

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Published: Mon 18 Oct 2010, 10:59 PM

Last updated: Mon 6 Apr 2015, 11:43 AM

RAKIA is a major provider of investment opportunities and one-stop solutions in its free zones, industrial parks and offshore facilities as well as in real estate developments and other ventures.

The authority has announced that it is conducting a presentation about specialised products and services and attractive investment options offered to technology companies and investors during its participation at GITEX Technology Week.

RAKIA recently announced that it has issued a total of 800 business licenses in the first nine months this year, representing a 40 per cent increase over the same period in 2009. RAKIA’s participation at Gitex is expected to attract more technology companies seeking to take advantage of Ras Al Khaimah’s favourable investment climate, according to the authority.

“RAKIA continues to focus on growing our portfolio of technology companies and IT investors as we believe that IT will play a very important role in sustaining the long-term growth of the RAK economy,” said RAKIA Chief Executive Officer Dr Khater Massaad.

The number of companies registered under RAKIA has again increased tremendously over the past few months, Dr Massaad said, adding: “We are confident that our presentations at Gitex will encourage more technology companies to invest in Ras Al Khaimah.”

RAKIA disclosed that it has prepared a special presentation for technology companies and visitors at GITEX focusing on the strategic advantages of Ras Al Khaimah as a business hub, as well as the full range of products and services being offered by RAKIA such as land, warehouse, easy licence procedures, visas and offices.

A total of 7,326 businesses and companies have been registered with RAKIA broken into 3,367 companies at the RAKIA Industrial Park and 3,959 companies under RAK Offshore. RAKIA continues to aggressively invest in infrastructure and knowledge and to participate in key networking events such as Gitex to attract world-class IT and technology companies. The leading global firms that are moving into Ras Al Khaimah include industry pioneer IBM, which has revealed plans to partner with RAKIA in setting up a state-of-the-art data centre.


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