MEDIA RELEASE PR37765
Ras Al Khaimah Investment Authority (RAKIA) Visits Auto Expo 2010 New Delhi to Attract Indian Auto-
Related Industries for RAKIA Auto Industrial Park
RAS AL-KHAIMAH, Jan. 7 / PRNewswire-AsiaNet / -
- With Ashok Leyland's Bus Assembly Facility as Anchor Partner,
an Elaborate Concept of Clustered Industries and the UAE's Unrivalled
Tax-Free Investment Environment, RAKIA Brings to India a Unique Business
Proposal
UAE's Ras Al Khaimah Investment Authority (RAKIA), one of the fastest
growing free zones in the region, has announced its participation in the
upcoming Auto Expo / Auto Enterprise 2010 exhibitions - to be held from 05 to
11 January 2010 in New Delhi, India - to introduce RAKIA Auto Industrial
Park, a fully integrated themed industry zone dedicated to auto- &
vehicle-related industries.
An excellent starting point for this industrial park was achieved through
signing up Ashok Leyland, who has built a state-of-the-art assembly of
chassis and body building unit in Ras Al Khaimah, the first bus assembly unit
in the GCC, where more than 2,000 buses per annum will be produced and
exported to the GCC and Middle East. With this magnet RAKIA is positive to
attract complementary industries for the park to snowball as synergetic
symbiosis.
Raed Mustafa, General Manager Industrial Parks, RAKIA, stated: "RAKIA
Auto Industrial Park will be a modern, self-contained world-class and
multi-national major hub for vehicle / auto-component production and trading
in the Middle East. Our tailored automotive industry mix will classify a
vehicle manufacturing zone, a spare parts manufacturing zone, a logistics
center, warehouse units, a commercial center and an administration building.
All industries within the RAKIA Auto Industrial Park will benefit not only
from the vast experience of RAKIA in managing a free zone and industrial
parks internationally with all required facilities and logistics in place,
but also from the unsurpassed business-friendly conditions the UAE has to
offer, like zero corporate and personal tax, no import & export duty, no
capital restrictions, cheap labour, low commodity cost, excellent
connectivity and strategic position, safety & stability, etc. With RAKIA
being a governmental entity, all investors additionally enjoy unique
sponsorship options, a non-bureaucratic structure, legislative flexibility
and the advantage of an aggressive, pro-business campaign of the Emirate to
attract FDI. Ras Al Khaimah is a perfect investment destination; we welcome
everybody and guarantee a prosperous, one-of-a-kind business environment."
He continued: "When wanting to approach global automotive players, India
is one of the key countries to go to, being one of the world's largest
markets for two-wheelers, commercial vehicles and passenger cars. The
biennial Auto Expo and Auto Enterprise exhibitions are the perfect platform
to meet the major peers and establish invaluable ties. We look forward to
coming to Delhi and are certain that our business proposal will be embraced
very positively there."
Rajinder Malhan, Executive Director, International Operations, Ashok
Leyland, added: "Our choice to come to Ras Al Khaimah was one of the best we
have ever made. Our facility is ready for inauguration in February 2010,
thorough trial production is being performed, and we are certain that our bus
assembly unit will add major value and profit to our enterprise. RAKIA has
been extremely helpful and professional; we appreciate the continuous
support, outstanding customer service and facilitating procedures we have
been provided with. We can only advise our fellow Indian colleagues to follow
us to Ras Al Khaimah and to be part of the RAKIA Auto Industrial Park, as
together we can build a truly amazing project that is unique to the region
and will bring countless advantages to the individual investor, the cluster
of auto-related industries and both the Indian and UAE community."
About RAKIA:
The Ras Al Khaimah Investment Authority (RAKIA) was
established in 2005 by Emiri Decree, legislated by H.H. Sheikh Saqr Bin
Mohammed Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah.
RAKIA's core mission is to promote trade, investment, growth and economic
development in Ras Al Khaimah through Free Zones and Industrial Parks
complete with all infrastructure at competitive prices. Operating as a
one-stop shop, RAKIA offers investors full ownership of their businesses plus
tax & duty exemptions and forms the ideal gateway for business investments in
the Middle East.
Contact details:
Alex Thomas
T + 971-7-244-6533 / 7251 / 7253
E-mail:Alex@rakinvestmentauthority.com:
Source: Ras Al Khaimah Investment Authority
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