Ras Al Khaimah Investment Authority (Rakia) 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 licenses were renewed this year.
There are now 4,170 business licences issued by Rakia since 2006, broken into 1,190 consulting/service companies, 1,291 trading/general trading businesses, 694 commercial companies, 660 industrial firms and 335 media businesses.
Rakia reported that a total of 317,644 square meters have 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 sqm from just 353,046 sqm in 2009. Further, the January to April 2011 period saw a total of 18,465 sqm of warehouse leased.
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.”
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.
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 ABC networking 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 Manufacturer's Association.