Peter Fort, the CEO of the Ras Al Khaimah Free Trade Zone (RAK FTZ), one of the fastest-growing and most cost-effective free zones in the Middle East, made a presentation this week to Malaysian investors, offering them business-friendly opportunities to expand their companies into the Middle East, Africa and Europe.
The RAK Free Trade Zone, located less than an hour’s drive from Dubai in the United Arab Emirates (UAE), is home to over 7,500 companies from more than 100 countries, representing more than 50 business sectors.
“For Malaysian companies looking towards the Middle East, the RAK FTZ is an ideal choice as we offer the most cost-effective and flexible business solutions in the region,” said Mr Fort, who was in Kuala Lumpur for the 4th Global Free Trade & Special Economic Zones Summit, held from 31 March to 2 April 2014.
Also at the summit, Mr Fort moderated a panel discussion titled, “The Role of Trade Finance in Facilitating Economic Integration and Global Trade”. The discussion included a focus on closing the gap between corporate demand and market offerings.
Headquartered in Ras Al Khaimah, one of the seven emirates which comprise the UAE along with Abu Dhabi and Dubai, the RAK FTZ allows 100% foreign ownership, full repatriation of capital and profits, and full tax exemption to investors.
“The RAK FTZ continues to attract considerable investments from around the world, and registration of new companies with us went up by nearly 30% last year, indicating a robust response to our award-winning services and high-quality facilities,” Mr Fort said. “Not only does the RAK FTZ offer ongoing business set-up support to meet the needs of each individual company, it does so at a lower cost to investors than its competitors, allowing companies to maximise their profits.”
The RAK FTZ offers a strategic geographical advantage to its clients, providing easy access to emerging and established markets in the Middle East, Africa, Europe and South Asia. It also provides easy access to the trade flows between East and West. As part of the UAE, Ras Al Khaimah provides a nurturing environment for investment with political stability and sound economic policies.
Also this week, RAK FTZ held a seminar in Singapore, in cooperation with the UAE Embassy to the Republic of Singapore, titled: “Ras Al Khaimah: Your Gateway to Emerging Markets”. Mr Fort introduced prospective investors there to the advantages of setting up companies in the RAK FTZ, including lower set-up costs than other free zones, a fixed foreign exchange rate, the freedom to source labour from anywhere around the world, and the ability to build your own labour accommodation on site.
Public Relations and Events Manager
Ras Al Khaimah Free Trade Zone Authority (RAK FTZ)