Some 90 companies are currently operating at the Ras Al-Khaimah Free Trade Zone. The zone’s gross capital totaled 60 million Emirati dirhams ($16 million) as of March 2002. The zone’s chairman, Shaikh Faisal Bin Saqr Al-Qasimi stated he hopes to increase the number of companies to 360 by 2004 with a capital investment of Dh400 million.
Ras Al-Khaimah is the northern-most of the United Arab Emirate (UAE)'s seven emirates and therefore closer to the main shipping lane traversing the Strait of Hormuz and closer to the CIS and Iranian markets. Each Free Zone tenant chooses where it wishes to invest based upon the type of activity in which it is involved. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
