RFTZ registers 598 new firms in 2006

RAS AL KHAIMAH — The RAK Free Trade Zone (RFTZ) has registered 598 new companies from 55 countries worldwide during the first half of this year. 34 per cent of the new businesses are from Asia, 31 per cent from the Middle East, 24 per cent from Europe and the rest were from Africa and North America.

By (BY SADIQ A. SALAM)

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Published: Mon 24 Jul 2006, 11:33 AM

Last updated: Sat 4 Apr 2015, 1:07 PM

“This is an overwhelming success taking in mind that we are planning to enlist 1200 companies during this

financial year,” Osama Al Omari, RFTZ Director-General, said.

The RFTZ has achieved a phenomenal 70 per cent growth in 2005 as far as number of registered companies are concerned.

He also added: “This proves that our concerted efforts that specifically targeted awareness campaigns in Germany, India, Iran, Lebanon, Syria, Turkey and Egypt were very successful and fruitful ones.”

Currently, the list of companies at the RFTZ reveals global background with business from the UAE, Iran, India, GCC countries and some other 70 countries have their strong presence.

This also reflects the strong growing confidence among investors in the boom sweeping the emirate’s entire economic and social sectors besides infrastructures, he added.

Moreover, “we are putting the final touches for formulating agreements with seven world class companies that work in media, petroleum, construction, cables production and foodstuff products with total Dh. 7 billion capital investment value,” he said.

The official also highlighted that this reflects the effectiveness of the business centres we have established in Dubai, Abu Dhabi and RAK. “These centres were useful in providing RFTZ-registered investors with unlimited back up to develop and expand their businesses,” he added.

Al Omari also voiced that the RFTZ is planning to take part in the coming GITEX in Dubai and a number of other national and international business forums and exhibitions. “We are planning to use state-of-art methods to promote the zone worldwide,” he added. The RFTZ has earlier announced plans to expand its Industrial Park, located in Khor Khwair area and Technology Park, located in the southern part of the emirate. “This includes establishment of 400 new warehouses that would handed over to the investor during this month,” he added.

This is in addition to new residential lots for the registered companies employees that cover an area of 24 square meters. The new expansions come in response to the overwhelming response we had from investors and businessmen worldwide,” he concluded.



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