RAK Investment Authority Wins IFM 2014 Award for 'Best Free Trade Zone, GCC'

LONDON, January 11, 2015 /PRNewswire/ --

London-based International Finance Magazine has conferred the 2014 award for 'Best Free Trade Zone' in GCC to Ras Al Khaimah Investment Authority (RAKIA). The award was presented on November 18 by the honourable Lord Sheikh, Baron Sheikh of Cornhill, House of Lords; Sheikh Bilal Khan, UK Catalyst at UKTI and Co-Chairman of Dome Advisory and Peter Meyer, CEO, Middle East Association at a gala dinner in the ballroom of the Jumeirah Carlton Tower in London.

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Ras Al Khaimah Investment Authority (RAKIA) is one of the major business destinations in the GCC and Middle East that offers innovative and world-class Free Zone and Non Free Zone facilities to companies and entrepreneurs looking for low operating costs and highly-competitive business solutions. RAKIA offers investors everything from business licenses to leasing options on land and office spaces to visas. RAKIA's facilities and solutions cover a broad swath of client-needs with industrial land, warehouses, and commercial and residential units.

For over 10 years, RAKIA has managed to attract investors from all over the world. Owing to the strategic advantages and investor oriented policies, RAKIA is home to 7,000 companies and manufacturers in various sectors, including metal, chemicals, food, plastics and automotives. Some of the major clients include Saverglass (France), Arc International (France), Guardian Glass (USA), Zamil Steel (Saudi Arabia), Falcon Technologies International (UAE), Posco (South Korea), Ashok Leyland, JBF, Dabur & Mahindra Motors (India), Duscholux (Germany), Vesuvius (UK) and Ahmad Tea (UK).  

Having invested AED 1 billion to date in developing 30 million square metres of land in its Al Hamra, 95% of which is leased out, and Al Ghail industrial parks, RAKIA continues to strive to be the leading choice for investors by providing innovative solutions and efficient services to meet the requirements of foreign and local investors.

Rino Sabatino, CEO, RAKIA, said: "I am delighted that RAK Investment Authority has been recognised for its stature as a leading business zone in the region, home to over 7,000 companies from every part of the world. Under the leadership of His Highness Sheikh Saud Bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah, RAKIA has been instrumental in transforming the Emirate into one of the leading investment destinations in the Middle East and North Africa. We are honoured to receive this accolade from International Finance Magazine in recognition of RAKIA's value proposition, promotional strategies for foreign direct investment, transportation links, incentives and cost-effectiveness for manufacturing and service-oriented companies."

Watch IFM's interview with Rino Sabatino: http://youtu.be/_WLf65aFay8

Read the full story: http://internationalfinancemagazine.com/article/IFM-celebrates-financial-excellence-at-annual-awards-ceremony-in-London.html

2014 award winners: http://www.internationalfinancemagazine.com/awards/winners

Gallery:  http://www.internationalfinancemagazine.com/awards/albums

If you would like to nominate a company or an executive for the awards, visit http://internationalfinancemagazine.com/awards/nomination

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SOURCE International Finance Magazine