Ras Al Khaimah Free Trade Zone Enters into a Strategic Partnership with Ras Al Khaimah Municipality

Ras Al Khaimah Free Trade Zone (RAK FTZ) has signed a strategic partnership agreement with Ras Al Khaimah (RAK) Municipality to help enhance the free zone’s approval and transaction procedures. 

Held at the RAK FTZ premises, the strategic partnership agreement was signed by Sheikh Mohammed bin Humaid Al Qasimi, Managing Director, RAK FTZ, together with Munther Mohammed Bin Shakar, General Manager, RAK Municipality. RAK FTZ’s engineering team and RAK Municipality’s technical team were both present to witness the significant event. 

Eyad Ismail, Engineering Manager, RAK FTZ, noted that the signing of the strategic partnership agreement with RAK Municipality is greatly beneficial for the free zone when it comes to serving its more than 8,000 clients across over 50 industry sectors.

“RAK FTZ is dedicated to providing ease of doing business to its clients. This is the reason why we are continuously looking for ways to improve our system, especially the waiting time for approvals and other procedures,” said Mr Ismail. “The signing of the strategic partnership agreement with RAK Municipality is a great way to fast-track processes and facilitate greater support to the free zone’s existing and potential clients, from the company formation stage and the stages afterwards.”

The agreement between the parties covers various partnership activities and commitments, including: working hand-in-hand to raise the level of coordination to speed up documentation and licence approvals, as well as the issuance of no objection certificates for clients in food, veterinary and cosmetics industries; accelerating the adoption and registration of RAK FTZ’s new properties; gaining access to governmental land database in order to utilise unused government-owned land for investment in different industries and help boost RAK’s economy; and updating RAK municipality regarding the free zone’s projects and property development plans.

Sheikh Mohammed bin Humaid Al Qasimi said: “With the aim to attract more international investors to the shore, RAK FTZ will continue looking into more strategic partnerships in the future to help boost the competitiveness of the UAE, particularly the Emirate of Ras Al Khaimah.”