Over 50 Indian firms explore investing in UAE economic zone
Over 50 major Indian companies have shown interest in expanding their operations to the Ras Al Khaimah Economic Zone ...
Over 50 major Indian companies have shown interest in expanding their operations to the Ras Al Khaimah Economic Zone (RAKEZ) in the UAE, one of UAE's seven emirates and a free economic zone offering comparatively attractive incentives, RAKEZ Chief Executive Ramy Jallad said in November. Briefing reporters prior to the second RAKEZ Business Investment Forum in New Delhi, Mr Jallad said the first such forum held in Mumbai last year had resulted in firm commitments from 20 large Indian companies, as well as over a hundred small firms to set up businesses in RAKEZ.
"More than 50 high-profile Indian business leaders have discovered the advantages of expanding their operations to Ras Al Khaimah Economic Zone," Mr Jallad said. A RAKEZ release said this special economic zone, less than an hour's drive from Dubai, offers a strategic geographical location that helps companies easily take advantage "of the trade flows between East and West".
"RAKEZ currently houses over 14,000 multinational companies and thousands of freelancers from from more than 100 countries, covering over 50 industries, making it one of the largest economic zones in the region."