His Highness Sheikh Ahmad Bin Saqr Al Qasimi, Chairman, Ras Al Khaimah Free Trade Zone (RAK FTZ), led a free zone delegation to China in order to share the advantages and benefits of setting up and expanding businesses at RAK FTZ with Chinese investors.
Both HH Sheikh Ahmad Bin Saqr Al Qasimi and Ramy Jallad, Acting CEO of RAK FTZ, conducted high-level meetings and seminars with key government and investment bodies, as well as local companies, and led meetings in the Chinese cities of Guangzhou, Shenzhen, Foshan and Hong Kong. The meetings took place from 24-28 May 2015. It was RAK FTZ's second road show in China. A free zone delegation visited Beijing in November 2014.
"Since the UAE and China established diplomatic relations more than 30 years ago, bilateral cooperation between the two countries has produced continuous growth across numerous economic sectors in both nations," HH Sheikh Ahmad said. "Economic development is particularly beneficial to Chinese investors at RAK FTZ, where they can operate free of taxation, with full ownership of their companies and a full range of business set-up and support services to ensure their success."
RAK FTZ has attracted interest from several Chinese investors who have set up companies in the free zone. They include, among others: Li Jie International Trading FZC, which handles the procurement and processing of spent catalysts and non-ferrous metallic residues from petrochemical businesses; Stimes Fabric and Steel Structure FZE, which trades in building materials, tents, awnings and tarpaulin; and Fu Yu Trading FZE, which trades in garments, gifts, toys and games.
The free zone is also home to Chinese-owned Hinloon Trading FZE, which does business in packaging machinery and spare parts. The company opened at RAK FTZ in 2013 to take advantage of the free zone's location, which provides easy access to customers in the Middle East and Africa. The company plans to expand from its flexi desk into a RAK FTZ warehouse.
"We set up our operations at RAK FTZ because we were able to get good value for our money, and it was easy to communicate with their staff," said Anson Chen, the company's Managing Director. "We were also pleased with the facilities and business set-up services that RAK FTZ provided."
About Ras Al Khaimah Free Trade Zone:
Ras Al Khaimah Free Trade Zone (RAK FTZ) provides award-winning services and world-class facilities, enabling clients to quickly and efficiently set up and grow profitable companies in the United Arab Emirates. Home to more than 8,000 active companies from over 100 countries and over 50 industry sectors, RAK FTZ offers completely tax-free status to clients, allows for 100 per cent foreign ownership and unrestricted repatriation of profits, in addition to many other business-friendly incentives.
Less than an hour's drive from Dubai, RAK FTZ offers significant geographical advantages for clients to easily access markets in the Middle East, Africa and South Asia. It caters to the unique requirements of small, medium and large businesses with four free zone parks including business centre facilities, offices, warehouses and land for development, as well as facilities for educational institutions. Since its inception 15 years ago, RAK FTZ has diversified from its traditional focus on industrial manufacturing to also support trading, sales and marketing activities, a wide range of service sectors, as well as logistics and distribution platforms.