RAK FTZ Continues Aggressive Growth Path as 3,239 New Companies Register in 2010

By Rak Free Trade Zone, PRNE
Monday, February 7, 2011

Total Revenue Increased by 10% During Challenging 2010

RAS AL KHAIMAH, UAE, February 8, 2011 - Defying the challenging economic environment, the Ras Al
Khaimah Free Trade Zone Authority (RAK FTZ) - one of the fastest-growing and
most cost-effective free trade zones in the UAE - continued to achieve steady
growth in its portfolio and revenue during 2010.

www.newscom.com/cgi-bin/prnh/20110208/436357 )

RAK FTZ registered 1,740 new free zone companies during the
last calendar year, while its International Companies (IC) division
registered a record number of 1,499, signifying a 14.65% increase in the
total number of registrations compared to 2009. Licence renewals also
achieved a significant growth of 16.49% in 2010, with 3,271 companies
renewing their business licences, reinforcing the free zone's reputation as
one of the most attractive investment zones in the Middle East. As of the end
of 2010, the total number of actively operational registered companies in RAK
FTZ stood at over 5,000.

In its Annual Performance Report for 2010, RAK FTZ also
announced that its total revenue during the year grew by 10% compared to

The massive marketing campaign organised locally and
internationally by RAK FTZ during its hosting of the 10th World Free Zone
Convention in Ras Al Khaimah last year contributed to the positive results
achieved by Ras Al Khaimah's free zones in 2010. In all, a total of more than
4,500 new companies registered in all the zones in Ras Al Khaimah, boosting
the emirate's economic growth and GDP for 2010. Meanwhile, development
projects throughout RAK also remained on course, including the nearly
completed Mina Al Arab, the Al Hamra area, and new investments in the tourism
and industrial sectors, such as the vehicle assembly plant of Ashok Leyland,
representing a total investment of USD 50 million.

Expressing his delight at RAK FTZ's achievements in 2010,
Oussama El Omari, CEO of RAK FTZ, said, "We are extremely proud of how
successful our strategies have been in these extremely challenging economic
environments. Our open door economic development policy has gone a long
way towards gaining the confidence of investors from across
the globe, which has led to increased capital investment in our free zone and
in RAK. Emerging business confidence is manifested in the growth in the
number of companies that chose to set up operations in RAK FTZ."

He added, "The ease with which these new companies were able
to set up business and start operations has left a positive impression. More
importantly, the environment we provide that enables them to grow and
flourish has become a hallmark of RAK FTZ that is admired the most by our
investors. Throughout the year, concerted efforts by our marketing team
ensured that specifically targeted awareness campaigns reached potential
investors throughout the globe."

Aside from its hosting of the the World Free Zone Convention
in RAK as part of its own 10th anniversary celebration, RAK FTZ's other
achievements in 2010, included the launching of a new mobile phone website
(English and Arabic), the unveiling of the new 'Mazeed' Service Desk at
Business Centre 1 in the RAK FTZ Business Park and the opening of a new
Promotion and Innovation Center at Dubai Festival City, which offers a range
of services to meet the growing business needs of its existing and
prospective clients. Additionally, RAK FTZ also opened a new RAK Business
Center location in its Business Park, as part of its efforts to reach out to
the investor community and corporate businesses across all markets and

In 2011, RAK FTZ will continue to focus on expanding its
reach, with sustained emphasis on growth markets like Brazil, Russia, India
and China, and concentrate on maintaining the levels of expansion achieved in
2010 through its leadership and cutting-edge approach to SMEs and
entrepreneurship. The free zone will also carry on with its corporate social
responsibility initiatives and follow through on its Emiratisation programme
by integrating more UAE Nationals into its workforce. One of the key projects
scheduled for 2011 is the opening of a new women-only spa at the Business
Centre 4 building.

"The unlimited support that we receive from the government of
Ras Al Khaimah especially from HH Sheikh Saud Bin Saqr Al Qasimi, Supreme
Council Member and Ruler of Ras Al Khaimah, and HH Sheikh Faisal Bin Saqr Al
, RAK FTZ Chairman, has been a key factor in our successful positioning
of the Emirate of Ras Al Khaimah as an important international investment
hub," summed up El Omari.

About the Ras Al Khaimah Free Trade Zone Authority:

Ras Al Khaimah Free Trade Zone (RAK FTZ) is one of the
fastest-growing and most cost-effective free trade zones in the United Arab
(UAE). With a reputation for affordability, flexibility and broad
geographical reach, RAK FTZ is rapidly emerging as the preferred business hub
in the region, from which investors can easily access and branch into the
emerging markets.

2010 marks RAK FTZ's 10th year in operation, and in the past
decade, it has gone from strength to strength, garnering accolades and awards
along the way. Since its establishment in 2000, with only a handful of staff
and a few offices, the free zone has grown by leaps and bounds and is now
home to some 5,000+ active companies from 106 countries around the globe,
employs more than 350 fulltime staff, operates business and promotion centres
in four locations in the UAE and has an expanding international presence,
with liaison offices in Germany, Turkey, India and the USA.

To learn more about the RAK Free Trade Zone, visit:

    For further information, please contact:

    Cleo Eleazar
    Public Relations and Media Officer
    Ras Al Khaimah Free Trade Zone Authority (RAK FTZA)
    Phone: +971-7-2077173
    E-mail: c.eleazar@rakftz.com


For further information, please contact: Cleo Eleazar, Public Relations and Media Officer, Ras Al Khaimah Free Trade Zone Authority (RAK FTZA), Phone: +971-7-2077173, E-mail: c.eleazar at rakftz.com

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