Posted by Bob Brunskill
The Ras Al Khaimah Investment Authority's (RAKIA) Industrial Parks have been named as one of the world's ten "Best Economic Potential" free zones in FDI Magazine's inaugural global ranking of economic zones.
In drawing up its top ten, FDI Magazine analysed more than 700 economic zones worldwide using qualitative and quantitative data including total size of zone, total land available for development, total employment, number of businesses operating, growth of businesses operating from 2009 to 2010, total volume of goods processed, total number of imports, total number of exports and GDP growth rate, among other factors.
RAKIA commented that the high ranking for its Industrial Parks recognised their role in generating close to $3 billion worth of investments from all over the world.
It added that through RAKIA's efforts, the emirate of Ras Al Khaimah has attracted more than 6,500 investors from Europe, India, the US, Russia, Asia and the Middle East, with RAKIA's Industrial Parks serving as a top attraction among investors.
The FDI award comes after RAKIA was named as the "Most Innovative GCC Investment Destination" by World Finance earlier this year.
RAKIA was also named the "Most Attractive FDI Destination in the Middle East" (2008/2009) by the Financial Times Business, London, and the "Most Cost Efficient FDI Destination" by the Financial Times in 2007.