UAE’s Ras Al Khaimah Investment Authority (RAKIA), one of the fastest growing free zones in the region, has announced that its participation in the Auto Expo / Auto Enterprise 2010 exhibitions held from 05 to 11 January 2010 in New Delhi, India was a major success. The main purpose of RAKIA’s presence there was to introduce RAKIA Auto Industrial Park, a fully integrated themed industry zone dedicated to auto- & vehicle-related industries.
Meetings were held with members of ACMA (Automotive Component Manufactures Association of India), FICCI (Federation of Indian Chamber of Commerce and Industry), CII (Confederation of Indian Industries) as well as with representatives of more than 50 key peers of the auto industry.
Ras Al Khaimah, With its tax-free environment, low logistic cost, easy and flexible procedures, competitive land rates, excellent infrastructure and sea connectivity as well as the Arab free trade agreement with 17 Middle East countries, have perfect conditions to offer for successful manufacturing and trading activities for export to the Middle East, Africa and Europe. Particularly for the manufacture of vehicles and components, the GCC with their high GDP and eminent consumption vehicle market present an enormous untapped potential. RAKIA Auto Industrial Park with its unique features and selling points provides the perfect ingredients for a profitable business venture. Ashok Leyland has exercised it successfully and is one of the major catalysts and ambassadors of our Auto Industrial Park.”
Raed Mustafa, General Manager Industrial Parks, RAKIA, stated: “We are very delighted about the positive feedback and warm welcome we have received from Indian’s auto-related industries. Members of major Associations and enterprises expressed interest in forming delegations to visit Ras Al Khaimah and RAKIA Auto Industrial Park
soon to see the facilities and get a better understanding of the investment proposal. We look forward to welcoming our Indian potential partners in our beautiful emirate soon.”
Rajinder Malhan, Executive Director, International Operations, Ashok Leyland, added: “It was a good move of RAKIA to be present in the Auto Expo India to get a first feeling about the market and the sentiment of the auto-related industries about doing business from Ras Al Khaimah. The positive response and interest in RAKIA Auto Industrial Park will result in many of our peers becoming a partner in this promising concept.”
