Dr Massaad: directing growth
Ras Al Khaimah Investment Authority (Rakia), 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, has revealed that it has issued 491 new licenses in the first four months of 2011, with April itself seeing as many as 130 licences granted. Rakia also pointed out that 556 licences were renewed this year. Since 2006, the authority has issued a total of 4,170 business licences. Six hundred and sixty are industrial companies, 1,190 are consulting/service companies, 1,291 trading/general trading businesses, 694 commercial companies and 335 media businesses. Rakia reported that a total of 317,644 sq m has been leased in the first four months of 2011, 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. Momentum accelerated Dr Khater Massaad, CEO, Rakia, 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. Rakia 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.' Big interest in RAK 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 Ras Al Khaimah. Other key exhibitions that Rakia participated in this year include the Middle East 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. Road shows The first four months of 2011 also saw Rakia organise road shows in Pune - India, New York, Detroit, Dubai and Ras Al Khaimah. It also participated in networking events such as an ABC meeting in Dubai, Micro Machine Summit in Ras Al Khaimah and roundtable meetings organised in Mumbai – India by the Organisation of Plastic Processors of India and the Indian Speciality Chemicals Manufacturers’ Association.
