Ras Al Khaimah Investment Authority (Rakia), a key provider of investment opportunities in Ras Al Khaimah, said it had issued 491 new licences in the first four months, with a record 130 licences granted in April itself.

Rakia is a major provider of investment opportunities and one-stop solutions in its free zones, industrial parks and offshore facilities as well as in real estate developments and other ventures.

Rakia also pointed out that 556 licenses were renewed this year.

There are now 4,170 business licences issued by Rakia since 2006, broken into 1,190 consulting/service companies, 1,291 trading/general trading businesses, 694 commercial companies, 660 industrial firms and 335 media businesses, said a Rakia statement.

On area of land leased, Rakia reported that a total of 317,644 sq m have been leased in the first four months, carrying forward the momentum from the previous year when the total area of land leased reached over 1 million sq m from just 353,046 sq m in 2009.

Further, the January to April 2011 period saw a total of 18,465 sq m of warehouse leased, it added.

Rakia CEO Dr Khater Massaad said: 'By strengthening our global reach and through very productive marketing campaigns, we have accelerated the momentum from 2010, which also was an excellent year for us in terms of performance.'

'The progress we have achieved in the first four months of 2011 puts us firmly on track for another highly successful and productive year,' he noted.

Rakia, he said, continues to grow in appeal as an investment destination of choice both regionally and across the world, which is a testament to the strong support from the RAK Government and the quality of facilities we offer to investors.

Rakia also revealed that its recent participation in the highly-awaited international trade shows –Hannover Messe and Industries Lyon in France – generated tremendous interest from several European countries and many foreign companies who are keen on setting up their operations in the emirate.

Other key exhibitions attended by Rakia this year include the ME Electricity Exhibition in Dubai; Gulf Industry Fair in Bahrain; Chem Tech in India; Gulf Food Exhibition in Dubai; Gulf Glass in Abu Dhabi; Plas Print Pack 3P Exhibition in Pakistan; 13th OIC Expo in Sharjah.-TradeArabia News Service