Greater business opportunities in RAK

23/05/2011 - Ras Al Khaimah Property News Posted by Bob Brunskell
Greater business opportunities in RAK

There could be greater business opportunities in Ras Al Khaimah (RAK) as figures show an increase in the number of businesses setting up in the emirate.Figures from the Ras Al Khaimah Investment Authority (Rakia) show that there were 491 business licenses issued in the first four months of the year, with April alone seeing 130 new permits.In addition, 556 business licenses were renewed this year, indicating major growth in the area.Chief executive of the wealth fund, Dr Khater Massaad, commented: "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."The majority of the business licenses in RAK are owned by consulting/service companies, followed by general trading businesses.Last week, theHindu.com reported that RAK is positioning itself to become the bridge between the West and Indian/Chinese markets.