RAK FTZ achieves 50 per cent growth

24/02/2009 - Ras Al Khaimah Property News
RAK FTZ achieves 50 per cent growth

The Ras Al Khaimah Free Trade Zone (FTZ) has recorded a growth rate in excess of 50 per cent, the organisation's chief executive and director general Oussama El Omari has announced.

Speaking to Khaleej Times, the boss said that the record growth rate was testament to the progress made in establishing the FTZ as a leader among regional and global investment agencies.

"RAK FTZ is recognised globally as a strategic and customer-friendly solution to reaching the international market. It continues to attract and retain new trade and businessess every year," Mr El Omari said.

The trade zone is currently ranked 17th among the top 100 special economic zones of the future, according to a recent report from FDI magazine, part of the Financial Times Business Group.

Established in 2000, the FTZ has enjoyed burgeoning trade with other growth economies, with countries in Africa and Asia taking up a leading number of trading licenses through the organisation.

In news that may be of interest to those looking for property in Ras Al Khaimah, FDI magazine also identified the emirate as the most attractive channel for foreign direct investment in the Middle East.