Ras Al Khaimah Investment Aut

Transcription

1 Profile Ras Al Khaimah Investment Aut hority () was established in 2005 through Emiri Decree No. (2)/ 2005 issued by H.H. Sheikh Saqr Bin Mohammed Al Qassimi, Supreme Council Member and Ruler of Ras Al Khaimah. With a mandate to promote and oversee the economic development of the Northern emirate, has literally transformed Ras Al Khaimah into an investment magnet with over 1900 local and foreign investors setting up operations within the emirate in just a short period of time. Within just four years of its inception, has attracted over USD 2.3 billion in industrial investments, powering an unprecedented economic surge that has made Ras Al Khaimah one of the fastest growing emirates in the UAE and the region. Total no of licenses is a Government body formed by Emiri Decree in 2005 Promote and oversee the economic development of the emirate Operate both free zones and non-free zones Act as one stop shop for all investor s needs Mandate Vision & Mission Vision To make Ras Al Khaimah a global hub for manufacturing and an investment destination Create wealth, ensure sustainability and profitability for every investor Symbolize excellence and ultimate in customer service Mission Offer complete solutions to the needs of every investor and provide value and customer satisfaction Ensure minimum transaction and conversion cost and to enable businesses to flourish in the quickest possible time To make investment in RAK simple, easy and a pleasant experience 2000 License type trend Not of license Trading 13% Media 11% Industrial 26% The licenses has issued show a remarkable balance among key sectors 28 per cent of licenses went to commercial companies, 26 percent to industrial firms, 22 per cent to consultancy & service companies and balance to Trading and media companies. has also made significant investments in infrastructure to attract world-class knowledge based and technology companies. Consulting Service 22% Commercial 28% License geographic trend UAE 15% USA 3% RUS-CIS 2% MISC 13% India 28% Rest of Middle East 28% Asia/SE Asia 7% Europe 17% PROFILE 1

2 Incentives 100% income and corporate tax exemptions Statutory support 100% capital and profit repatriation Licenses (Industrial, commercial, trading, consultancy, professional services and media) 100% ownership in free zones Investor & employee visa (Visit, employment & residence) No foreign exchange control Permits Strong appreciation and fully convertible currency Design approvals No trade barriers Occupancy certificates Avoidance of double taxation with many countries No restrictions on hiring expatriates Products Land for industrial activities Key enablers Warehouses / Light Industrial Units Good infrastructure Business Towers /office space Good logistic support Commercial centre & Studio flats Excellent port facilities Workers accommodations Competitive energy cost Easy access to GCC countries Strategic location being near to large markets Zero corruption and minimum bureaucracy Stable government and investor friendly policies Presence of local and international banks for funding project finance s core mission is to develop and manage Industrial Estates including free and non free zones in Al Hamra area about 15 kms away from Ras Al Khaimah City and in Al Ghail, 40 kms away from Ras Al Khaimah City. Operating as a one-stop-shop, proposes free zones to foreign investors who wish to avail full ownership of their businesses and enjoy tax and duty exemptions. Other key benefits being offered to foreign investors are 100 per cent corporate and personal tax exemption, 100% capital and profit repatriation; easy availability of labour; easy licensing procedures; excellent port facilities; and absence of foreign exchange controls, trade barriers and quotas. The state-of-the-art Rakia Business Towers in the Al Hamra region is a multi-storey complex that house corporate offices for a wide array of clients, including IT firms, financial houses, consultancies and several other new business ventures. Apart from warehouses at Khorport, furthermore is developing a warehousing/light Industrial Units complex of nine units in the free zone and ten within the non free zone in Al Hamra,. Apart from this Commercial centre, studio flats and workers accommodations are being built in phases. power plant in Al Ghayl Industrial Park PROFILE 2

3 Other projects that have been designed to enhance the business environment within Ras Al Khaimah include power plant of 65 MW in Al Ghayl and another 45 MW power plant in Al Hamra which have just been commissioned and put in operation. Industrial zones Free zones Commercial 11% Commercial 17% Industrial 83% Industrial (Mfg) 89% Geographic trend-industrial zones MFG Geographic trend-free zones MFG UAE 35% Others 1% Russia-CIS 1% Europe 6% Asia-SE Asia 6% UAE 35% USA 1% Others 2% Europe 9% Asia-SE Asia 10% Rest of ME 20% Rest of ME 13% India 31% India 30% is also forge partnership with investors who prefer to invest in businesses based outside the free zones. has partnered with various international companies in strategic projects like DVD manufacturing, Chemicals, Diapers and Cements and Steel factory. has attracted investment from all over the world, in various industry segments. These industries are diverse and strategic and are in the areas of glass & table ware, float glass, vehicle assembly, steel products, building materials, electrical, rubber & plastics and food processing. Besides managing Industrial Parks, also delivers a wide range of complementary services to ensure investors are able to maximize their investment potential. offers investment advisory service and equity participation on selected projects, a key move that reinforces the investors trust and confidence. s investor friendly policies and flexibility has certainly attracted an array of international brands including Guardian Glass, Arc International, Franke, Duscholux, Mitsui, Kludi, Becker Industrie, Kempe, Ashok Leyland to name a few. Long term leases on land for industrial activities and other facilities are offered by at the most competitive rates in the Emirate and the region. It is the combination of this price advantage and the quality of infrastructure and services that led the FDI magazine of the FT Gro award the 2009 Best FDI destination in the Middle East. Recently, signed a memorandum of co-operation with Bank of Baroda in a move that is greatly beneficial to investors in the emirate. Under the agreement, the bank will provide financing to firms for their projects in industrial parks. PROFILE 3

4 Metal Products 35% Metal Products 36% Auto & Related 2% Food processing 2% Wood products 4% Food processing 2% Auto & Related 4% Electricals 4% Building materials 22% Electricals 7% Rubber & Plastics 7% Others 20% Wood products 6% Rubber & Plastics 6% Others 30% Chemicals 9% Chemicals 11% Building materials 11% Performance Highlights So far 1983 companies (May 2009) have been registered with Industrial zone Phase-I, II, Extn Zone and Ceramic zone at Al Hamra of total area of 2.83 million sqm have been completely leased out to 94 companies with 90% of these are in manufacturing. Free Zone at Al Hamra with total area of 1.89 million sqr mtr have been completely leased out to about 114 companies registered in free Zone out of which 89% are in manufacturing. Al Ghayl industrial park, spanning 24.3 million sq mtr of which 6.9 million sq mtr is Free Zone. Already approx 5.0 million sqm have been leased out to 227 companies of which 93% are in manufacturing has also formed Rakoffshore, another innovative initiative that establishes a true offshore facility and regulatory body providing complete offshore non-resident business registration and financial services. Through registered agents, mainly well known law firms and chartered accountants or auditing companies, Rakoffshore set up International Business Companies which wants to invest its funds in Ras Al Khaimah. More than 50 such agents are on board with 2500 companies. s ongoing success largely reflects the Ras Al Khaimah Government s own success in establishing reforms, instituting new laws and regulations and enforcing policies that are hospitable to local, regional or international investors. Ultimately, the government s proactive support and involvement in the ongoing new economic development approach is aimed at raising the standard of living of both citizens and residents of the emirate, while ensuring long-term socioeconomic sustainability. Major companies in Arc International based in France came to RAK to establish a production facility in the region for easier access to surging Middle Eastern markets. Arc International is one of the world s top producers of glassware and stemware. Pioneer Cement Industries plant with a one million ton per annum capacity has been set up as a joint venture between RAK Investment Authority () and the Indian company Penna Cement Industries Limited. The state-of-the art cement plant with latest technology and machinery to maintain high operational safety levels and high product quality with low energy consumption, has been set up in a record time of 16 months. Zamil Steel of Saudi Arabia is an example of a company based in the Middle East to establish a strong presence in RAK. Zamil, which is actually one of the largest industrial groups in the Middle East, registered with in 2005 and beginning production in The company manufactures preengineered buildings and galvanized steel for electricity transmission towers. The pre-engineered structures are mainly used for construction projects, show rooms, military bases, factories and temporary or semi-temporary structures. Guardian Glass of USA established Guardian RAK with a production capacity of 700 tons of glass per day for use in automotive and construction applications, including highperformance coated glass. JBF Industries from India has teamed up with Ras Al Khaimah Investment Authority and set up Polyester PET Resin Packaging chips plant in. RAK Steel, a joint venture of Ras Al Khaimah Investment Authority, is a new energy efficient and environment friendly steel rolling mills. The mill produces 500,000 tonnes per annum 8mm to 40 mm diameter steel deformed reinforcement bars (REBARS) to international British and American standards. Ashok Leyland of India is one of the biggest names in industry has set up their integrated assembly plant to build 1000 buses per year in RAK. This will help ease demand for buses throughout the UAE. In Technology Field While RAK has been expanding in industrial, real estate, construction and tourism in recent years, the government also been pursuing a strategy of promoting technological innovation. The CSEM-UAE innovation centre is based in RAK and has been running since This project is a joint venture between the government and the Swiss Research Centre, based in Neuchatel. CSEM-UAE is known for its works in renewable energy, with the centre displaying great expertise in solar power technologies and systems. The centre s expertise now reaching well out of the emirate and even in to outer space. The centre is involved in US s Multi- Object Spectrometer for Infrared Exploration (MOSFIRE) project. This project is highly specialized one and acts as a testimony to the centre s international standing. Falcon Technology International (FTI). FTI is a joint venture investment between Swissbased PrimusTech Investments, and a large group of UAE investors. FTI is currently the only digital data storage production facility in the Middle East. Recently and the Swiss Federal Institute of Technology (EPFL) have signed an agreement for the creation of a technology campus and to carry out applied research. This long-term agreement will begin a new era in this region undergoing rapid economic and scientific development. The project will create a university campus of the EPFL to provide educational opportunities at the university level and to develop advanced research programs, especially for research in the environment and energy field. Pioneer Cement Industries PROFILE 4

5 Guardian Glass of USA established Guardian RAK with a production capacity of 700 tons of glass per day for use in automotive and construction applications, including highperformance coated glass. JBF Industries from India has teamed up with Ras Al Khaimah Investment Authority and set up Polyester PET Resin Packaging chips plant in. RAK Steel, a joint venture of Ras Al Khaimah Investment Authority, is a new energy efficient and environment friendly steel rolling mills. The mill produces 500,000 tonnes per annum 8mm to 40 mm diameter steel deformed reinforcement bars (REBARS) to international British and American standards. Ashok Leyland of India is one of the biggest names in industry has set up their integrated assembly plant to build 1000 buses per year in RAK. This will help ease demand for buses throughout the UAE. JBF Rak In Technology Field While RAK has been expanding in industrial, real estate, construction and tourism in recent years, the government also been pursuing a strategy of promoting technological innovation. The CSEM-UAE innovation centre is based in RAK and has been running since This project is a joint venture between the government and the Swiss Research Centre, based in Neuchatel. CSEM-UAE is known for its works in renewable energy, with the centre displaying great expertise in solar power technologies and systems. The centre s expertise now reaching well out of the emirate and even in to outer space. The centre is involved in US s Multi- Object Spectrometer for Infrared Exploration (MOSFIRE) project. This project is highly specialized one and acts as a testimony to the centre s international standing. Rak Steel Falcon Technology International (FTI). FTI is a joint venture investment between Swissbased PrimusTech Investments, and a large group of UAE investors. FTI is currently the only digital data storage production facility in the Middle East. Recently and the Swiss Federal Institute of Technology (EPFL) have signed an agreement for the creation of a technology campus and to carry out applied research. This long-term agreement will begin a new era in this region undergoing rapid economic and scientific development. The project will create a university campus of the EPFL to provide educational opportunities at the university level and to develop advanced research programs, especially for research in the environment and energy field. Ashok Leyland PROFILE 5

6 s valuded clients Company Sector/sub-sector Country of Origin Investment in million USD Guardian Industries Float Glass USA 130 Pioneer Cement Cement India 105 Arc International Tableware France 100 Ashok Leyland Bus/Truck Assembly India 50 Duscholux Sanitary Fittings Germany 30 Dabur India Ayurvedic products India 25 Franke SS Kitchen Products Austria 55 Kirby Steel Steel Products Kuwait 30 Zamil Steel Steel Products KSA 35 RAK Ghani Glass Glass containers Pakistan 25 JBF Rak Polyester chips & films India 100 Beaufort International Diaper Switzerland 30 KGL Logistics Kuwait 50 Mitsui Japan SS Kitchen Products Japan 150 Falcon International DVD Switzerland 70 RAK Global Logistics UAE 25 Kludi Rak Sanitary Fittings Germany 30 Becker Industrial Coating Industrial Coating France 20 RAK Steel Steel Products India 25 POS-JK Steel Products Korea 30 Kempe Engineering Industrial Equipments Australia 10 Bosco Aluminium Aluminium Products India 10 Maas Profile ME Steel Products Germany 5 Unipods Building Materials KSA 30 Grand Interiors Furniture KSA 30 PROFILE 6