Switzerland - Saturday, March 31st 2012 [ME NewsWire]
Proliferating ties with Switzerland, Ras Al-Khaimah Investment Authority (RAKIA), the government entity responsible for attracting investments to its free and industrial zones through a complete range of solutions to local and foreign investors, recently co-sponsored the ‘Forum for Swiss Foreign Trade and Investment 2012’ organised by OSEC in Zürich Exhibition Centre, Switzerland on the 29 March 2012.
The organisers of the event – the Swiss-government commissioned OSEC – informs, advises and guides SMEs from Switzerland and Liechtenstein in their international business ventures. By linking companies, experts, and private and public organisations from around the world, they facilitate the efficient promotion of foreign trade.
As a co-sponsor of the event, RAKIA highlighted business opportunities for Swiss organisations in its Industrial Parks and Free Zones. With over 1,000 European companies currently registered with RAKIA, forums like the OSEC are the perfect platform for introducing potential investors to the return on investment for businesses in the emirate.
“Forums like these present ample opportunities for strengthening ties with Swiss businessmen as we relay the advantages of business ventures in Ras Al-Khaimah. The boundless ease of business formation, coupled with business friendly policies and a distinct cost advantage– expressly the lower cost of business operations –make the emirate one of the most lucrative options available,” said Dr. Khater Massaad, CEO, RAK Investment Authority.
A highlight in RAKIA’s portfolio of Swiss companies is CSEM, an independent, non-profit Swiss-UAE joint venture company for applied research, including technology, strategy and innovation consulting, focused on generating value for a sustainable world in MENA. Establishing operations in Ras Al-Khaimah in 2005, Swiss engineers have teamed up with local and regional specialists to expand and grow operations.
“Our relationship with Switzerland has been a fruitful one, as can be seen with the Swiss companies that have already made Ras Al-Khaimah their home,” continued Dr. Khater Massaad. In order to further facilitate Swiss investments in the emirate, RAKIA has also established offices in Geneva for assistance and information.
In addition to CSEM, over 60 companies from Switzerland have landed in Ras Al-Khaimah including Franke, EPFL Middle East, Swiss International Chocolates and Falcon Technologies.
Offering a one-stop shop for licensing, permits and visa processing, RAKIA allows investors to set up businesses with ease. In 2011, the number of licenses issued by RAKIA – spanning a range of categories including commercial, industrial, trading, general, consulting and services – reached 11,000, a 27% rise from the previous year.
This growth stems from the comprehensive package offered by RAKIA, which allows organisations to choose from tailor-made solutions to fit their unique business requirements. Businesses from across the globe continue to be attracted to the many advantages put forward by the entity, which include 100% repatriation of profits and capital, complete ownership in free zones, no tax on import of raw materials and machinery, no hiring restrictions and low rent options for long-term leasing of industrial plots, warehouses, office space, and executive and labour accommodation.
In addition to its convenient location, which provides accessibility to the rest of the UAE and surrounding regions - allowing clients to tap into lucrative markets such as India, China and Africa - a dedicated power plant has been built specifically for its industrial parks, ensuring continuity in production and logistics.
Dr. Massaad concluded, “Since our establishment in 2005, RAKIA has aimed to provide companies with major investment opportunities and one-stop solutions. By optimising RAKIA’s resources, our clients are able to sustainably fuel the growth of their businesses and forge relations with other geographical markets as well.”
Contacts
Marketing Department
RAK Investment Authority
+97172446533
marketing@rakinvestmentauthority.com
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