A total of 574 new companies have registered with the Ras Al Khaimah Free Trade Zone (RAK FTZ) in the second quarter of 2011, reinforcing the growth achieved by the Free Zone this year.

A total of 1068 new companies registered in the January-June period of 2011, compared to 835 companies registered in the same period last year, thus achieving a significant 30 per cent year-on-year increase, said a statement.

The RAK FTZ also announced that it has a 4 per cent increase in the second quarter over the total revenues registered in Q1 of 2011.

The maximum numbers of new companies are from India, UAE, UK, Egypt, Pakistan, Germany, US, France, Canada and Turkey.

With the new entrants, the total number of registered companies operational at RAK FTZ by the end of Q2 of 2011 is over 5000. Main activities of the new companies that registered in the free zone in Q2 are trading, consultancy and services, industrial and commercial.

“The enviable growth achieved in new registrations this year is a testimony to our reputation as one of the most attractive investment zones in the region,” said Oussama El Omari, CEO of RAK FTZ.

“RAK FTZ has enjoyed a steady increase in its client base since it was born 10 years because of its continued diligence to keep abreast of the needs of investors.”

“We are not going to rest on our laurels, and by the end of 2011, we will be well on course towards a new record in company registrations and growth. Moreover, with some leading companies from across the globe making their beeline to RAK FTZ, we are eventually contributing to the economic growth of RAK and the UAE as a whole,” added El Omari. – TradeArabia News Service