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Sheikh Sultan passes decree on establishment of RTI Park Free Zone Authority
His Highness Sheikh Dr. Sultan Bin Mohamed Al Qasimi, Supreme Council member, Ruler of Sharjah and President of American University of Sharjah (AUS) has passed Amiri decree No. (38) for 2016 on the establishment of the Research, Technology and Innovation (RTI) Park Free Zone Authority for innovation. The entity will have a corporate personality, full financial and administrative independence and capacity to undertake legal actions necessary to achieve its objectives.
The objectives of the RTI Park are to provide an appropriate environment for innovation and creativity through establishing an attractive and sustainable park with infrastructure and services. It also aims to support, encourage and develop the innovation ecosystem and upgrade the emirate's standing as a global destination in the field of research and technology.
The Park will be managed by the AUS Enterprises Co. LLC and shall have authority as necessary to undertake such management.
The decree shall come into effect from its issue date and shall supersede any provision that contradicts or conflicts with its provisions and shall be published in the Emirates gazette.