www.rakftz.com: 8-Feb-2009
Ras Al Khaimah Free Trade Zone (RAK FTZ) continues to prove its leading edge in innovation and technology as it tops the list of fDi Magazine's best free zones list in the Middle East. With its state-of-the art facilities, friendly service, competitive rates and continuing development, RAK FTZ earned the 17th position of fDi magazine's Top 100 Special Economic Free Zone of the Future 2008/2009 over stiff competition.
Picturesque Ras Al Khaimah has also been hailed as 6th in the magazine’s Top 20 Middle Eastern Cities. When it comes to Cities Most Attractive for Foreign Direct Investment, Ras Al Khaimah comes in first, followed by Abu Dhabi and then Dubai – it is an honour that is accepted with quiet pride by the progressive coastal city.
fDi Magazine is a foreign direct investment magazine by The Financial Times Business Group. The free zones are ranked according to 76 criteria including Economic Potential, Business Friendliness, Infrastructure, Tax and Other Costs, Foreign Direct Investment and Human Resources among others. The results were culled from questionnaires provided to the free zones, as well as third party establishments such as the World Bank and news wires.
“We are very happy to have received this honour. Passing and excelling the rigid criteria that fDi Magazine set for this ranking proves that RAK FTZ is a powerful choice for companies looking into international expansion. This honour underlines the vast potential that RAK FTZ holds for them,” shares Oussama El Omari, CEO and Director General of RAK FTZA.
“Despite the current economic forecast we face, diligence in tapping a rich potential market coupled with a strategic and competitive location will provide a solution to these challenges,” he adds.
Established in the year 2000, RAK FTZ quickly gained a promising reputation. RAK FTZ offers a cost-effective solution for business and trade to open within the Middle East. Despite the current economic climate, it staunchly forges ahead to provide better service and world-class infrastructure for its clients. RAK FTZ is continuing the development of its Navigator Business Campus and is also preparing for the Phase Two of the Industrial Park. Within the next three years, it is also expected to launch flagship projects including the Container Port and Dry Dock initiative, water-front investment opportunities, accelerating skills provision through Education Park and Academic Centre initiative, Aviation Park (Maintenance Repair Operation – M.R.O.), Al Ghayl Industrial Park, and Downtown Business Plaza. It has also recently re-launched its website www.rakftz.com and a new business forum www.bizinfouae.com for its clients that provide vital information making the free zone a virtual hub for businessmen and traders within the region.