Indians investors now bet on UAE free zones

KOZHIKODE: Indians have become major investors in the free zones in the United Arab Emirates (UAE), an official of the Ras Al Khaimah Investment Authority (RAKIA) said here on Monday.
Speaking at a seminar on 'How to expand your business in the UAE', organized jointly by Malabar Chamber of Commerce and RAKIA, Alan Nixon Dsouza, associate manager of marketing, RAKIA, said that around 30 percent of the total foreign direct investment (FDI) in the free zones in the emirate of Ras Al Khaimah came from India.The FDI from India was substantial in other free zones in the UAE as well, he added.
He said that the free zones in the emirate of Ras Al Khaimah had emerged as a preferred destination for Indian firms due to its strategic location, access to a huge target market of 350 million people, ease of doing business and having a corporate ecosystem.
Welcoming business people to utilize the facilities offered by the authority to expand their business in the UAE, he said that the government-owned RAKIA also offered the unique facility of becoming the local sponsor if the investors want to set up manufacturing or industrial investments in non- free zone areas.
Suhail Yacoob, vice president, sales, RAKIA explained about the various investment opportunities offered by the authority. Malabar Chamber of Commerce president C Mohan presided over the function.