Ras Al Khaimah Free Trade Zone (RAK FTZ), one of the fastest-growing and most cost-effective free trade zones in the UAE, has received major industry recognition from fDi Magazine and Financial Times Business, making the top five best overall Middle East Free Zones of the future listing.
Ranked in fourth place out of more than 115 international free zones, the accolade was revealed in fDi Magazine’s recently launched Middle East Free Zones rankings for 2011-2012. RAK FTZ was also rated third best overall for economic potential across the Middle East (second in the UAE); and the fifth best free zone in the Middle East for cost effectiveness.
Over 115 free zones were evaluated in the annual free zone rankings and awards across six individual categories - best economic potential, best incentives, best facilities, best transportation links, best FDI promotion strategy and most cost-effective free zone.
Commenting on the announcement, Oussama El Omari, CEO of RAK FTZ, said: “We are honoured to be recognised among the top free zones across the Middle East in this year’s fDi Magazine rankings. The recognition goes to prove our strong credentials across various attributes, including our cost-effectiveness and economic potential on offer. RAK FTZ has gone to great lengths to create a conducive and business-friendly environment over the last 10 years, and this honour sends out a clear message to the global business community that RAK FTZ is indeed the home for business in the Middle East.”
The international panel of judges used a wide range of criteria, with a strong emphasis on the key incentives offered by special economic zones as well as transportation links, facilities, cost effectiveness and economic potential.
From strength to strength
2010 marked RAK FTZ’s 10th year in operation. In the past decade, it has gone from strength to strength, garnering accolades and awards along the way. The free zone is now home to more than 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 US.
