With Ashok Leyland's bus assembly facility as anchor partner, an elaborate concept of clustered industries and the UAE's unrivalled tax-free investment environment, RAKIA brings to India a unique business proposal
UAE's Ras Al Khaimah Investment Authority (RAKIA), one of the fastest growing free zones in the region, has announced its participation in the upcoming Auto Expo / Auto Enterprise 2010 exhibitions - to be held from 05 to 11 January 2010 in New Delhi, India - to introduce RAKIA Auto Industrial Park, a fully integrated themed industry zone dedicated to auto- & vehicle-related industries.
An excellent starting point for this industrial park was achieved through signing up Ashok Leyland, who has built a state-of-the-art assembly of chassis and body building unit in Ras Al Khaimah, the first bus assembly unit in the GCC, where more than 2,000 buses per annum will be produced and exported to the GCC and Middle East. With this magnet RAKIA is positive to attract complementary industries for the park to snowball as synergetic symbiosis.
Raed Mustafa, General Manager Industrial Parks, RAKIA, stated: "RAKIA Auto Industrial Park will be a modern, self-contained world-class and multi-national major hub for vehicle / auto-component production and trading in the Middle East. Our tailored automotive industry mix will classify a vehicle manufacturing zone, a spare parts manufacturing zone, a logistics center, warehouse units, a commercial center and an administration building. All industries within the RAKIA Auto Industrial Park will benefit not only from the vast experience of RAKIA in managing a free zone and industrial parks internationally with all required facilities and logistics in place, but also from the unsurpassed business-friendly conditions the UAE has to offer, like zero corporate and personal tax, no import & export duty, no capital restrictions, cheap labour, low commodity cost, excellent connectivity and strategic position, safety & stability, etc. With RAKIA being a governmental entity, all investors additionally enjoy unique sponsorship options, a non-bureaucratic structure, legislative flexibility and the advantage of an aggressive, pro-business campaign of the Emirate to attract FDI. Ras Al Khaimah is a perfect investment destination; we welcome everybody and guarantee a prosperous, one-of-a-kind business environment."
He continued: "When wanting to approach global automotive players, India is one of the key countries to go to, being one of the world's largest markets for two-wheelers, commercial vehicles and passenger cars. The biennial Auto Expo and Auto Enterprise exhibitions are the perfect platform to meet the major peers and establish invaluable ties. We look forward to coming to Delhi and are certain that our business proposal will be embraced very positively there."
Rajinder Malhan, Executive Director, International Operations, Ashok Leyland, added: "Our choice to come to Ras Al Khaimah was one of the best we have ever made. Our facility is ready for inauguration in February 2010, thorough trial production is being performed, and we are certain that our bus assembly unit will add major value and profit to our enterprise. RAKIA has been extremely helpful and professional; we appreciate the continuous support, outstanding customer service and facilitating procedures we have been provided with. We can only advise our fellow Indian colleagues to follow us to Ras Al Khaimah and to be part of the RAKIA Auto Industrial Park, as together we can build a truly amazing project that is unique to the region and will bring countless advantages to the individual investor, the cluster of auto-related industries and both the Indian and UAE community."
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About RAKIA
The Ras Al Khaimah Investment Authority (RAKIA) was established in 2005 by Emiri Decree, legislated by H.H. Sheikh Saqr Bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah. RAKIA's core mission is to promote trade, investment, growth and economic development in Ras Al Khaimah through Free Zones and Industrial Parks complete with all infrastructure at competitive prices. Operating as a one-stop shop, RAKIA offers investors full ownership of their businesses plus tax & duty exemptions and forms the ideal gateway for business investments in the Middle East.
For further details, please visit www.rakinvestmentauthority.com or www.rak-ia.com.
© Press Release 2010
