RAK FTZ new registrations up 70pc in H1
Ras Al Khaimah, August 1, 2013
Ras Al Khaimah Free Trade Zone (RAK FTZ) reported a 70 per cent year-on-year increase in new company registrations for the first half of the year ended June 30.
As many as 1,994 new companies have joined the zone, a substantial increase over the 1,170 companies registered in the same period in 2012.
Revenues from the new company registrations have increased by 23 per cent year-on-year during the period.
The number of licences renewed also increased from 2,298 in the first half of 2012 to 2,696 in the same period this year, registering a year-on-year growth of 17 per cent.
New companies included businesses from UK, India, Turkey and Germnay from a broad range of industries including consultancy, general trading, logistics, and industrial manufacturing.
Peter Fort, CEO, RAK FTZ, said: “We are extremely happy that RAK FTZ has achieved such an exceptional growth in new company registrations in the first half of 2013. This growth reflects investor confidence from across the globe in our cost-effective free zone and business-friendly approach and re-emphasises the world-class facilities and services we offer."
“To maintain the high levels of growth, we will require substantial investment over the coming months to expand our facilities. To cater to this on-going demand, we are developing new warehouses and office towers, as well as master-planning expanded free zones,” Fort added.
RAK FTZ has re-launched the Government e-Services Portal with more features such as the Arabic language option and easier transaction flow; introduced the pre-approval applications online through e-Services; and provides Establishment Cards for the companies in the free zone through the RAK FTZ office. - TradeArabia News Service
More Miscellaneous Stories
- Dubai chamber F&B group sets roadmap for 2014
- Feminisation drive costs $213m to Saudi firms
- US interiors firm opens MEA base in Dubai
- Saudi 'spends $1.6bn on energy drinks'
- Farmer is jailed for raping housemaid in Bahrain
- Bahraini mother recounts firebombs agony
- Guard foils masked ATM robbers in Bahrain
- Bahraini on Arab world's 'most powerful women' list
- Latest kitchen technology at Sharjah event
- Number of HNWIs in Africa to double by 2023
- World boxing legend to visit Bahrain
- UAE road accidents decline by 23.5pc
- Top businesswomen in Bahrain honoured
- Death penalty sought for Bahrain terrorists
- Girl, 9, dies after fall from 8th floor in Abu Dhabi
- Lebanese café brand opens Dubai outlet
- Bahrain poultry firm told to step up safety
- Customer dies in Bahrain cafe brawl
- Bahraini boys hurt while planting bombs
- Philips, Ericsson launch LED street lighting
- DuBiotech to set up first Halal safety lab
- Jotun to supply coatings for Makkah Station
- Raytheon wins $655m Kuwait Patriot deal
- Alwaleed Foundation lights up 3 Saudi villages
- Poultry farms strike may trigger shortages in Bahrain
- Oman seals Victoria food security pact
- Saudi woman, 80, donates $133m to charity
- New Saudi clamp on energy drinks
- Outrage follows Bahrain killer bomb
- Improvised explosive device used in Bahrain attack