RAK pitches itself to IT companies

Ras Al Khaimah Investment Authority (Rakia) is pitching Ras Al Khaimah (RAK) as an investment destination for tech companies.

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RAK pitches itself to IT companies RAKIA beleives that IT will play a very important role in sustaining the long term growth of the RAK economy.
By  ITP.net Staff Writer Published  October 18, 2010

Ras Al Khaimah Investment Authority (Rakia) is pitching Ras Al Khaimah (RAK) as an investment destination for tech companies. Rakia has issued a total of 800 businesss licenses in the first nine months of this year, representing a 40% increase over the same period in 2009.

The organisation hopes its participation at GITEX will persuade more technology companies to take advantage of Ras Al Khaimah’s investment climate. Dr Khater Massaad, CEO of Rakia, says: “Rakia continues to focus on growing our portfolio of technology companies and IT investors as we believe that IT will play a very important role in sustaining the long term growth of the RAK economy.

“We are thus eager to showcase the exciting opportunities and attractive business incentives that are on offer in Ras Al Khaimah during our participation at GITEX. The number of companies registered under Rakia has again increased tremendously over the past few months and we are confident that our presentations will encourage more technology companies to invest in Ras Al Khaimah.”

Rakia has prepared a presentation for GITEX focusing on the advantages of RAK as a business hub, as well as the services being offered by Rakia such as land, warehouses, simplified licensing procedures, visas and offices.

A total of 7326 businesses and companies have been registered with Rakia, with 3367 companies at the Rakia Industrial Park and 3959 companies under RAK Offshore. IBM  has recently revealed plans to partner with Rakia in setting up a data centre.

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