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RAK eyes 20% rise in industrial investments

16 Dec 2010

(MENAFN) Industrial investments in Ras Al Khaimah, which have exceeded more than $3 billion since 2006, is set to surge 20 per cent in 2011, the emirateï¿½s investment authority said.

Rakia, a major provider of investment opportunities and one-stop solutions in its free zones, industrial parks and offshore facilities, has set a record in the number of new licences issued in a year.

Rakia said it would continue to target investors from overseas. India accounts for 27 percent of all investors followed by Europe with 19 percent and the rest of the Middle East with 19 percent. UAE investors make up 15 percent of businesses registered with Rakia.

Since inception in 2006, Rakia has issued a total of 3,573 licences, including 613 industrial firms.

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