Pak businesses represent 7 per cent of RAK FTZ’s registered companies

Pakistani businesses represent 7 per cent of Ras Al Khaimah Free Trade Zone (RAK FTZ) registered companies. Out of more than 5,000 companies from 138 countries registered at RAK free trade zone, Pakistan is third in the top 10 countries in our portfolio. This was stated by Mr Azfar Saeed, Marketing and Business Investment Manager, RAK FTZ while addressing Pakistani businessmen, entrepreneurs and investors regarding business opportunities available at RAK FTZ during a two-day Road Show at a local hotel. He informed that currently 469 investors have registered with free zone from Pakistan and number of investors is still increasing around the globe.
In third quarter of year 2011, RAK FTZ registered 413 new companies which represent a significant increase of 38.6 per cent over the same period last year, when 298 new companies registered. He informed that vast majority of new companies originate from UAE and India, with other new partners hailing from Pakistan, Afghanistan, France and Netherlands. At RAK FTZ Pakistani businesses are enjoying special advantages such as 100 per cent foreign ownership, 100 per cent income and corporate tax exemption, 100 per cent and profit repatriation, and no import and export duties. With cost effective set-up packages regulations and procedures have been kept simple to facilitate investors. RAK FTZ provides Pakistani businesses, especially those from SME sector, to set up their business quickly, easily and smoothly in UAE. State of the art infrastructure and facilities RAK FTZ provided for startups are incomparable especially with our value-added support to help you reach your target markets and open up opportunities for your businesses to connect to emerging markets, said Azfar Saeed. He informed that RAK FTZ is a purpose-built area where certain normal trade barriers such as tariffs and quotas have been eliminated and bureaucratic requirements are lowered to attract new business and foreign investment. RAK FTZ could be a good hub for trading and marketing of products in Gulf States with facilities of warehousing as well. Investors can set up their facilities in RAK FTZ in six sectors – logistics, industrial, academic, commercial, consultancy and general trading. With full ownership and a tax free jurisdiction, business environment within the free zone is specifically designed to facilitate successful entry into emerging markets, particularly for small and medium enterprises.