Record number of business licences issued in emirate in 2010
Location and world-class business structure in Ras Al Khaimah have been cited as primary reasons for the award of a record number of investor licences.
Between January and November 2010, investor licences issued by RAKIA increased 28% compared to the same period in 2009. Totalling 1002, it is the highest number of licences ever issued within a year in the emirate.
“We believe that maintaining a high level of confidence and satisfaction among all investors has been a critical factor in the increasing number of companies that are now setting up business operations in Ras Al Khaimah,” said RAKIA CEO Dr Khater Massaad.
“Moreover, investors greatly appreciate the emirate’s centralised location and world-class business infrastructure, which are crucial in boosting investors’ competitive edge and giving them a significant head start. Calling it a “phenomenal year”, Massaad added that the trend had convinced “more and more global business enterprises of the excellent investment potential of Ras Al Khaimah.”
The news was announced at a business conference in Dubai, in collaboration with the Emirates CEO Club, last month.
Since it was established in 2006, RAKIA has issued 3573 licences and received business investments of more than US $3 billion.
In addition, there are 3960 offshore companies registered under RAK Offshore, which operates under RAKIA, bringing the number of companies now based in Ras Al Khaimah to more than 7300.
The investors primarily operate in the Free Zone and Industrial Park in Al Hamra and the Industrial Park in Al Ghayl, which are all investment zones developed by RAKIA.