Over 50 Indian companies including DCM ShriramNSE 2.31 % and LT FoodsNSE -2.46 % have shown interest in expanding their operations to Ras Al Khaimah Economic Zone (RAKEZ) in the UAE.
RAKEZ is one of the seven emirates that comprise the United Arab Emirates (UAE) and one of the 45 free economic zones in the Gulf nation.
"More than 50 high-profile Indian business leaders have discovered the advantages of expanding their operations to Ras Al Khaimah Economic Zone (RAKEZ)," according to a statement issued by RAKEZ at a press conference here.
In this regard, several meetings are lined up with companies like DCM Shriram, MSN Lab and LT Foods, it said.
Addressing the media, Ramy Jallad, group chief executive officer, RAKEZ, said, "India is very important for us. The bilateral ties between India and the UAE are excellent and out of the over 14,000 multinational companies present at RAKEZ, 22 per cent are Indian. We are looking for more from India and other countries."
Ashok Leyland, Dabur and GK Technologies are already present in RAKEZ, he informed.
There are tremendous business opportunities for the investors in RAKEZ, Jallad said adding companies can invest in various areas like back offices, setting up call centres, manufacturing units, sales office, etc.
Strategically located with 24x7 power supply, the economic zone is offers its clients easy access to fast growing markets in the Middle East, North Africa, Europe, South and Central Asia through major logistical hubs available in the emirate. It is well connected to various countries through road and its five ports.
There are finance facilities also available with certain conditions, if an investor commits to bear the 60 per cent cost of the new set-up, RAKEZ will help the rest 40 per cent, Jallad said.
"To smoothen the process, RAKEZ offices have been set up in India, Turkey, Germany and the UK. An investor can go to the office and the representative will address all his queries. If he wishes to start business, RAKEZ will help him in start operations with in 24 hours after getting all clearances and approvals. We are trying to give our investor the best service when it comes to ease of doing business," the CEO added.
Source: Economic Times
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