Islamabad Chamber of Commerce and Industry (ICCI) organized an interactive secession in collaboration with Ras Al Khaimah Investment Authority (RAKIA) to explore investment opportunities, advantages and facilities offered by RAKIA for local and foreign investors.
RAKIA could explore possibilities to expand bilateral trade with Pakistan as private sector has been playing the leading role in flourishing real estate sector of the country, Vice President ICCI, Mr.Shahid Zaman Shinwari said this, while exchanging views with a visiting delegation of RAKIA of the United Arab Emirates at Chamber House.
Vice President ICCI expressed hope that RAKIA would help set off a new growth trend in the region, marking the beginning of a revival of the real estate sector. During a presentation, the General Manager of RAK Offshore of UAE, Mr.Peter Schuster highlighted the available investment opportunities and advantages of investing in different areas and said that his delegation was here to join hands with Pakistan in all sectors of the economy and was looking for joint ventures with corporate companies. He said they wanted to make a long-term strategy plan with Pakistan for enhancing trade.
He said that Ras Al Khaimah is characterized by an attractive investment environment and enjoys socio-economic stability, referring to the quality of infrastructure and the ease procedures for manpower. Mr.Peter also hailed the good economic performance of the emirate, which includes sizeable volumes of energy and oil as well as the privileged position of the emirate and the encouraging investment policies.
Responding to the questions, General Manager of RAK Offshore of UAE said that the free trade zone is an area of a country where some normal Trade such as Tariffs and quota shares are eliminated. He said that RAKIA offers a highly attractive economic package to foreign investors, which include 100 per cent income and corporate tax exemptions, full repatriation of capital and profit, readily available labor, hassle-free licensing procedures, excellent infrastructure and logistic support.
