Pakistan businesses represent 7% of UAE RAK FTZ’s registered companies

Karachi: Pakistan businesses represent 7% of UAE Ras Al Khaimah Free Trade Zone RAK FTZ registered companies. Out of more than 5,000 companies from 138 countries registered at RAK free trade zone, Pakistan is 4th in top 10 countries, says Azfar Saeed, Marketing & Business Investment Manager, RAK FTZ.

Addressing Pakistan businessmen, entrepreneurs, investors on business opportunities at RAK FTZ during two-day Road Show which began Wednesday in Karachi, he said currently 469 Pakistan investors registered with RAK FTZ and their number is still increasing from around the globe.

In third quarter of year 2011, RAK FTZ registered 413 new companies representing significant increase of 38.6% over same period last year, when 298 new companies registered. Majority of new companies are from UAE & India, with others from Pakistan, Afghanistan, France & Netherlands.

At RAK FTZ Pakistan businesses enjoy special advantages of 100% foreign ownership, 100% income, corporate tax exemption, 100% capital, profit repatriation, no import, export duties. With cost effective set-up packages regulations, procedures kept simple to facilitate investors.

It provides Pakistan businesses, especially for SME sector set up business quickly, smoothly in UAE. State of art infrastructure, facilities provide for start ups are incomparable especially with value-added support to help reach target markets and open up opportunities for businesses to connect to emerging markets, said Azfar Saeed.

RAK FTZ is purpose-built area where certain normal trade barriers such as tariffs, quotas eliminated, bureaucratic requirements lowered to attract new business, foreign investment. It could be good hub for trading, marketing of products in Gulf States with facilities of warehousing as well.

Investors can set up facilities at RAK FTZ in logistics, industrial, academic, commercial, consultancy, general trading. With full ownership and tax free jurisdiction, business environment within free zone is specifically designed to facilitate successful entry into emerging markets, particularly for SMEs.

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