RAKIA Industrial Parks were established in 2005 to consolidate the emirate's economic potential and realize a long-term strategy for the country's socioeconomic development.

HIGHLIGHTS

Operate both free and non-free zones Act as a one-stop shop for all investor needs

Since its inception, over 2,000 local and foreign investors have set up operations within the emirate under RAKIA, fueling an unprecedented pace of economic growth that has made Ras Al Khaimah one of the fastest growing emirates in the UAE and a regional economic force to reckon with.

The licenses RAKIA has issued show a remarkable balance among key sectors – 25 per cent went to commercial companies, 24 per cent to consultancy and service companies, 23 per cent to industrial firms and the balance to trading and media companies. Investors have come from 96 countries all over the world, out of which 36% are from the Middle East, 35% from Asia & Far East, 18% from Europe, and the balance from other parts of the world.

RAKIA has also made significant investments in infrastructure to attract world-class knowledge-based and technology companies.

RAKIA ADVANTAGES

Easy licensing procedure Single window clearance for approvals & permits Every investor gets personal attention Ready availability of power Issue of visit and residence visa under one roof Open door policy. Easy access to decision makers

PRODUCTS & SERVICES

RAKIA is one stop shop for all the investor needs providing statutory support like issue of licenses & company formation, project approvals, investor’s visa, design approvals & construction permits, occupancy certificates etc., in addition to providing land for industrial activities, warehouse & Industrial sheds, office space, labour and executive accommodations.

RAKIA PRODUCTS

Land for industrial activities Warehouses/ Light Industrial Units Business Towers/office space Commercial Centre Workers’ accommodation Executive Residences

Among the myriad of advantages which the foreign investors avail of are full ownership of their businesses and a tax free haven apart from duty exemptions. Other key benefits offered to investors are 100 per cent capital and profit repatriation; easy availability of labour; easy licensing procedures; excellent port facilities; and absence of foreign exchange controls, trade barriers and quotas.

RAKIA has diversified its product offerings with the introduction of RAKIA Business Tower, a multi-stored commercial complex located in the Al Hamra region of RAK that houses corporate offices of clients from diverse segments. RAKIA is also developing a warehousing/light industrial units complex of nine units in the free zone and ten within the non-free zone in Al Hamra. Moreover, workers’ accommodation and studio flats are currently available for leasing and renting.

Other RAKIA projects that have been launched to further meet Ras Al Khaimah’s growing demand for electricity requirements include a 65 MW power plant in the Al Ghail and another 45 MW power plant in the Al Hamra, which have both been recently commissioned and put into operation.

KEY ENABLERS

Good infrastructure & logistic support system Excellent port facilities Competitive energy cost Easy access to GCC countries Strategic location being near to large and important markets Zero corruption and minimum bureaucracy Stable government and investor friendly policies Presence of local and international banks for project funding

RAKIA is also forging partnerships with investors who prefer to do business outside of the free zones. The Authority is affiliated to various international companies through strategic partnership which includes DVD manufacturing, building materials, packaging, cement and steel production. It has attracted investments from all over the world in diverse industry segments ranging from glass and table ware, float glass, vehicle assembly, steel products, building materials, electrical equipment, rubber, plastics and food processing.

Besides managing industrial parks, RAKIA also delivers a wide range of complementary services to ensure that investment potentials are maximized. RAKIA offers investment advisory services and equity participation in selected projects, a key move that reinforces investor trust and confidence. Its investor-friendly policies and flexibility have brought in an array of international brands including Guardian Glass, Arc International, Franke, Duscholux, Mitsui, Kludi, Becker Industries, Kempe, Ashok Leyland and many others.

RAKIA provides long-term leases on land for industrial activities and other facilities at very competitive rates in the emirate. The combination of excellent pricing and high infrastructure quality convinced the Financial Times Business Group’s fDi magazine to name RAKIA the ‘Best Foreign Direct Investment destination in the Middle East’ for 2009.

Recently, RAKIA signed a memorandum of co-operation with banks in Ras Al Khaimah in a move that will greatly benefit investors in the emirate. Under the agreement, the banks will provide financing to firms for their projects in RAKIA industrial parks.

In response to Ras Al Khaimah’s growing emergence as a business destination of choice, RAKIA established RAKOFFSHORE – and the International Business Company (IBC) concept- a move designed to address the growing demand for offshore markets, while also complementing the emirate's ongoing economic diversification program. RAKOFFSHORE is an innovative initiative that establishes a true offshore facility and regulatory body providing complete offshore non-resident business registration and financial services through registered agents, that mainly comprise reputed law firms and chartered accountants or auditing companies. Currently there are more than 50 such agents on board with 2,500 companies.

RAKIA's ongoing success largely reflects the Ras Al Khaimah Government's own success in establishing reforms, instituting new laws and regulations and enforcing policies that are hospitable to local, regional or international investors.