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RAK FTZ delegation popular in Czech Republic

United Arab Emirates: Sunday, April 05 - 2009 @ 09:13

Headed by RAK FTZ Chairman His Highness Sheikh Faisal bin Saqr Al Qasimi, the delegation was invited by CzechINVENT, a well-known worldwide investment agency to meet with prominent individuals from the government, business and private sectors.

The busy four-day visit provided an opportunity to study and compare the successful industrial estates and thriving business industries between Ras Al Khaimah and Czech Republic. It also gave the RAK FTZ delegation the chance to introduce the remarkable growth of the free zone and its friendly services to key industries in the Czech Republic.

HH Sheikh Faisal shares:

“Seeing firsthand, the bustling economy that is the Czech Republic was truly inspirational. We have gained much knowledge on how they run their industrial estates and tourism sector – we can employ the same strategies within the historical locations of Ras Al Khaimah. It is an opportunity that we can capitalise on; it will not only serve to enrich tourism within RAK but it will also assist in the all-important task of preserving our own heritage.”

The delegation also met with Vladimir Duchek, Deputy-Mayor of Plzen. Duchek guided them on a tour of the Bory Fields Municipal Industrial Park and Skoda Plzen Industrial Estate, the most successful industrial city in the country. The tour ended with a promise from the industrial estate officials to send a business mission to RAK in the near future.

HH Sheikh Faisal and the delegation also sat down with Prince William Lobkowicz, a nobleman and successful businessman in his own right, who oversees four of the Lobkowicz royal palaces as well as their breweries and restaurants. They discussed the possibility of using the same model and transform RAK’s old fortresses into tourist attractions.

The team then met with Alena Gajduskova, first Vice-Chairman of the Senate to establish government relations and explore trade opportunities. Gajduskova represented Zlin, one of the most entrepreneurial regions of the country, the home of world-famous Bata Shoe manufacturing.

Jiri Kunert, Chairman of the Board of UniCredit Bank and President of the Czech Banking Association, welcomed the delegation to a discussion on the plight of the country’s banking sector. This was followed by a round-table meeting with the Confederation of Industry and Transport of the Czech Republic, which included representatives from local companies and entrepreneurs. Business discussions were promising with channels for future business relationships put on the table and thoroughly explored. The delegation introduced the fast growth of RAK FTZ, emphasising its strategic location and the opportunities for international expansion, which attracted a number of inquiries from the audience.

HH Sheikh Faisal also took the opportunity to meet with Vice-Governor Miroslav Singer who has been a Board Member of the Czech National Bank (CNB) Board since 2005. They discussed the current economic situation and the possibilities of CNB and RAK FTZ working hand-in-hand to create more business and employment that will help each other’s respective countries tide over the economic turbulence.

Taking every opportunity to attract more businesses and investors to RAK FTZ, the delegation also attended a dinner hosted by the Czech Business Club. A number of the member companies and corporations were quick to express their interest in RAK FTZ and promised to send business delegates to RAK by November this year.

“It was heartening to see the warm welcome extended to us by the people of the Czech Republic,” says CEO Oussama El Omari. “We are very thankful for this opportunity to witness the economic success they’ve had and, of course, this great opportunity to introduce the vast potential for business expansion that awaits them at RAK FTZ. It will be our pleasure to return their hospitality and host the Czech Republic business delegations that will be sent to RAK within the year.”

The trip attracted generous press coverage, including a five-minute appearance at the Czech National TV Channel CT24, a business breakfast interview for E-25-Popular Business Weekly Magazine and an interview with the Z1 TV Business Channel. El Omari took the opportunity to introduce the wide range of RAK FTZ facilities: from low-cost Flexi Desks to Executive Offices and warehouses, with details easily accessible online at RAK FTZ website.

RAK FTZ is one of the fastest growing and most cost-effective free trade zones in the Middle East and today is home to more than 5000 companies. RAK FTZ’s competitive advantage includes 100% tax exemption and 100% foreign ownership. It also offers transparent laws and regulations, no restrictions on capital and profit repatriation, a strategic location within proximity to Dubai, state-of-the-art communication facilities and easy access to Ras Al Khaimah international airport and sea port.

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Sunday, April 5- 2009 @ 9:13 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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