With almost 3,100 domestic companies already operating in the Ras Al Khaimah Economic Zone (Rakez) in the UAE, the authority is engaging with more corporates here to set up their units in their facility.
Already large domestic players like Ashok Leyland, Dabur and Mahindra among others are present in the zone.
"We currently have 3,100 Indian companies across a broad spectrum of industries at the Rakez, constituting 22.7 per cent of our entire business community making the largest on the basis of nationality," Rakez Group chief executive Ramy Jallad told reporters here today.
He further said setting up facilities in the zone will provide a huge competitive edge to Indian companies to compete with international markets as their cost of operations will be cheaper by 25-50 per cent.
"We have interacted with many companies here and we have seen interest from pharma, chemicals, manufacturing, auto, IT, technology, biotech, financial services among others," Jallad said.
He further the zone is fast emerging as the world's fastest growing free and non-free economic zones providing a metropolitan culture for living and working in addition to all the facilities required to set up the industry.
"We give clearances with all licences and other documentation required within 24 hours," Jallad said.
Since the Emirate of Ras Al Khaimah lies at the centre of fast-emerging economies, it makes Rakez the ideal industrial base and proprietary investment gateway to the region's thriving markets, he said.
The Rakez is home to over 13,000 companies including over 600 manufacturers exceeding 50 sectors. Major Indian businesses at the zone include Ashok Leyland, Dabur and Mahindra, among many others.
"We are not only providing a platform for industrial and manufacturing growth for various Indian companies as also SMEs, but we are also looking forward to welcoming more investors from India into our ecosystem," Jallad added.
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