Posted by Bob Brunskill
Ashok Leyland, India's second-largest lorry maker, has explained its decision to set up a base in Ras Al Khaimah and launch the UAE's first vehicle manufacturing plant in the emirate last month.
Speaking to The National, Bhimasena Rau, resident director of Ashok Leyland in the UAE, said the company had found that costs in Ras Al Khaimah were significantly lower than elsewhere.
"When choosing the plot at the final detail level, the RAK authority were very accommodating, rules permitting," he added.
The comments came as it was revealed that the RAK Investment Authority (RAKIA), which manages the three investment zones in the emirate, said it had generated almost $3 billion in foreign investment and attracted 6,500 businesses in the past five years.
According to the newspaper, the body is seeking to attract further foreign investment as part of its domestic growth strategy.
Ashok Leyland last month unveiled the AVIA trucks which are due to start rolling out from the RAK facility soon.