Authorities in Ras Al Khaimah have succeeded in turning the emirate into an attractive destination for foreign investment, a senior Pakistani official has said.
Shahzad Ali Malik, president of the Lahore Chamber of Commerce and Industry (LCCI), praised Ras Al Khaimah as "an attractive project in Gulf" during a recent meeting with a delegation from the RAK Investment Authority (RAKIA), Business Recorder reported.
According to the news source, Mr Malik pointed to the strong cultural and historic relations between Pakistan and the Gulf states and urged Pakistani investors to help cement these further by investing in Ras Al Khaimah.
"Malik said that Ras Al Khaimah is becoming the hub of business activities and this is due to the vision of Sheikh Saud Bin Saqr Al Qasimi, the Ruler of Ras Al Khaimah," Business Recorder also reported.
"He achieved this milestone of rapid economic growth by implementing vast organisational and economic reforms that transformed RAK into an attractive destination for foreign investment."
Meanwhile, Peter-Michael Schuster, head of the RAKIA delegation, spoke of the advantages of investing in the emirate such as 100 per cent income and corporate tax exemptions and full repatriation of capital and profit, among other benefits.