Karachi - Ras Al Khaimah Free Trade Zone (RAK FTZ) has emerged as home of around 8000 companies of over 105 countries. Around 400 Pakistani companies have been enjoying tax-free environment with 100 per cent foreign ownership. Furthermore, around 1.7 million Pakistanis are working in a wide variety of industries.
This was stated by Wilson Chan, Director Regional Business Development RAKFTZ, while talking to Pakistani business community in Karachi. Wilson further said that UAE’s name is respected world over for quality and standards of goods. Products manufactured in RAKFTZ are well known for high quality standards and have huge demand in global markets. The UAE is committed to make the region heart of the businesses in the region and provides a wide range of opportunities for SMEs as well as large businesses from Pakistan. President KCCI Iftikhar Vohra said that Pakistani products are falling short of Indian products in terms of market reach to Africa and Middle East. Places like RAKFTZ are golden opportunities to bridge this gap and enable our products to reach these markets. Another major advantage for business operating in RAK FTZ is that the costs of living and doing business in Ras Al Khaimah are up to 50 per cent lower than they are in some of the UAE’s big-city centres, and this allows clients to achieve the maximum return on their investment.