RAK FTZ ties up with RAK Municipality to fast-track transactions

Ras Al Khaimah Free Trade Zone (RAK FTZ) said in a media statement that it has signed a strategic partnership agreement with Ras Al Khaimah (RAK) Municipality to help enhance the free zone’s approval and transaction procedures.

“With the aim to attract more international investors to the shore, RAK FTZ will continue looking into more strategic partnerships in the future to help boost the competitiveness of the UAE, particularly the Emirate of Ras Al Khaimah,” said Sheikh Mohammed bin Humaid Al Qasimi, Managing Director, RAK FTZ.

“RAK FTZ is dedicated to providing ease of doing business to its clients. This is the reason why we are continuously looking for ways to improve our system, especially the waiting time for approvals and other procedures,” said Eyad Ismail, Engineering Manager, RAK FTZ, adding that the tie-up will benefit the free zone in better serving its more than 8,000 clients across over 50 industry sectors.

“The agreement with RAK Municipality is a great way to fast-track processes and facilitate greater support to the free zone’s clients,” he noted.

Among other things, the agreement includes: coordination to speed up approvals for documentation and licence, and issuance of NOCs for clients in food, veterinary and cosmetics industries; registration of RAK FTZ’s new properties; gaining access to governmental land database to utilise unused government-owned land for investment in different industries; and updating RAK Municipality regarding the free zone’s projects and property development plans.