Dr Khater Massad, the CEO of Ras Al Khaimah Investment Authority (RAKIA), a leading free zone in RAK, UAE, will lead the delegation to meet with the top management of South African multinational corporations and SMEs to discuss investment possibilities in the Emirate. The events are hosted by RAKIA and organised by Dun & Bradstreet.
The delegation will present its strategies and market outlook and share views on the macroeconomic picture for Middle Eastern opportunities. This is the perfect platform for CEOs and directors to learn more about the advantages of setting up manufacturing facilities or offices in UAE and Ras Al Khaimah.
Registrations are open until 31 Jan 2012 at www.dnbsame.com/rakiaevents.html.
Under the guidance of Sheikh Saud Bin Saqr Al Qasimi, supreme council member and ruler of RAK, the Emirate has achieved success in its development initiatives, helping establish one of the Middle East's most dynamic and fastest-growing economies.
Healthy economic and trade ties underpin the strong relationship between South Africa and the UAE. The fact that these ties are growing exponentially is attributed primarily to the support such activities receive from the authorities in the two countries and secondly to the fact that both the UAE and South Africa are trade and distribution hubs for their respective regions. South Africa remains the UAE's key business and investment partner, with total bilateral trade reaching almost $2 billion, additionally South Africa is among the top 20 investors in the country.
The various attractions of UAE as a destination for foreign investment are undeniable. The key draw to the UAE economy is the fact that there is no corporate/income tax and 100% foreign ownership in the free zones. The UAE also offers additional benefits such as no restriction on capital repatriation and lower costs of doing business. All this is collectively offered in a highly developed and well-connected country.
As a means of reaching the government's goals of sustainable social and economic development, the Ras Al Khaimah Investment Authority (RAKIA) was established in 2005. In diversifying the emirate's economy and ultimately establishing it as a regional hub for industrial manufacturing, trade and commerce RAKIA has achieved success, helping register significant growth in GDP. Its business registry includes more than 10 000 companies (including on-shore and off shore companies) involved in sectors ranging from manufacturing and trading to services.
"When RAKIA was founded six years ago, it was our mission to raise the emirate's business and investment profile. By promoting and cultivating the potential of local industries, we were eventually able to draw in major global players such as Ashok Leyland, Dabur India, Becker Industries, Guardian Industries, Arc International, Duscholux, Beaufort International, Becker Paints, Kludi RAK, JBF RAK and Franke, amongst others," says Massaad.
RAKIA serves as a one-stop-shop for investors, providing a complete range of investment services and value-added offerings including processing of licenses for industrial, commercial, trading, consulting/services and media-related businesses; employment, residence and visit visas; design approvals; and various types of permits. It also intervenes in the negotiation of land of different sizes and rates for important strategic projects and offers a wide range of ready-to-occupy warehouses.
Key products & services
Renowned for having one of the best regulatory environments in the region, RAKIA offers a highly attractive economic package to foreign investors and its infrastructure and logistic support, competitive energy cost, easy access to GCC countries, zero corruption and minimum bureaucracy, stable government and investor-friendly policies have added to the emirate's global appeal. Many South African companies have already set up their base in RAK and UAE and are benefitting from these factors and many more continue to explore the potential offered by Ras Al Khaimah.
