RAKIA looking for entrepreneurs from Punjab region to discuss overseas expansions

Ludhiana, April 22, 2014: Avtar Singh, President, Chamber of Industrial and Commercial Undertakings (CICU), Ludhiana said that the main objective of `How to Increase Business with RAK-UAE, Seminar and B2B Meetings Organised by CICU' was to make contacts and learn more about the economic & financial benefits and assistance available to expand business like manufacturing, trading services through RAKIA in RAS Al Khaimah. RAKIA business and Industrial Parks offer attractive and competitive Free Zone and Non Free Zone facilities to companies and entrepreneurs looking for low operating costs and high living standards.

RAKIA team comprising Probir Chakraborty Chief Operating Officer, Aseeb Abdul Khader Marketing Manager and Suhail Yacoob Senior Business Development Executive form Government of Ras Al Khaimah RAK Investment Authority would be interacting with industry leaders / decision makers to apprise them in details of the benefits of doing business from RAKIA Industrial Park and FTZ.

Probir Chakravorty COO RAK Investment Authority said that through government reforms, business friendly policies and excellent infrastructure and facilities, RAS Al khaimah is ready with arms open wide for further investments. RAKIA continues to encourage and promote for an investment with development of its strategically located Industrial Park and Free Zones.

Chakravorty gave detailed presentation highlighting specific facilities as under:

?  RAKIA (Ras Al Khaimah Investment Authority) Industrial Park is spread over 25 million sqm and located at the North end of the Arabian Gulf coastline, is  well connected to destinations in the Gulf countries, CIS, Europe, the US, Australia and the Far East.  RAK   is   one   of   the   largest   producers   of   Cement   & Pharmaceuticals in Gulf.

 ?  Since its inception in 2000, the Ras Al Khaimah Free Trade Zone (RAK FTZ) has witnessed massive growth in company registrations with India now having a sizeable market share. More than 7,000 companies, 500 manufacturers from 106 countries have set up shop at the FTZ. of them, around 2000 companies are owned by Indians. 

?  Some of the big Indian names include Dabur India, JBF RAK, Kotak Mahindra, the Murugappa Group, Mahindra & Mahindra, Ashok Leyland and Yamuna cable accessories.

?  RAK FTZ focuses mostly on small and medium?sized enterprises (SMEs), which are reflected in the industries represented at the FTZ. The FTZ provides a range of business set?up solutions that cater to the needs of different types of clients.

?  A 45-minute drive from the Dubai international airport, easy access to the strategic markets, 3 billions consumers in 5 hours flying radius, Proximity to 2 express highways, 3 sea ports and 3 airports, RAK's geostrategic location in the Persian Gulf is crucial for companies looking at exports in the Middle East and Asia region.

?  RAF FTZ offers 100 per cent foreign ownership, 100 per cent income tax and corporate tax exemption and 100 per cent capital and profit repatriation, making it the most attractive and fastest growing free zone for many aspiring entrepreneurs. Low business costs of upto 50 per cent, in comparison with other Emirates for warehouse and land lease make the FTZ a preferred choice for companies setting up base in the region.

Chakravorty further said that RAKIA is looking for entrepreneurs from Punjab region to discuss overseas expansions or setting up a unit at the FTZ, so as to help SMEs connect with emerging market economies such as Middle East and North Africa region.

 Upkar Singh Ahuja General Secretary CICU in his concluding remarks said by that this event provided information on the growing economy, investment climate and ease of doing business in RAS Al Khaimah, investment opportunity in Industrial Park and RAK FTZ with its diverse range of facilities, services, licensing and banking facilities. Participants were given an inside into how they can use the RAK FTZ platform through its various cost effective, simple and fast company formation options to expand their operations and grow their business in Middle East and North Africa region.

During B2B meeting held with potential investors more detailed information, guidance and counseling to industrialists was provided by aforesaid Senior Officials from Government of Ras Al Khaimah RAK Investment Authority in setting up company in RAK FTZ.