RAKEZ shows promise as an entrepreneurial hub with a 132% increase in companies joining the Free Zone

The United Arab Emirates’ Ras Al Khaimah Economic Zone (RAKEZ) has welcomed over 1,500 companies into its fold in the second quarter of 2023. Compared to the second quarter of 2022, this represents a staggering 132% increase in growth and sets RAKEZ apart as a facilitator of new investments and as an accelerator for business growth.

Established by the Government of Ras Al Khaimah, RAKEZ helps startup businesses, SMEs and global manufacturing players form companies in the UAE and currently has a community of over 18000 companies across 50 sectors.

The economic zone is continually striving to bring new investors to Ras Al Khaimah, the majority being from India, Pakistan, the UK, Russia, and Egypt, illustrating its global, metropolitan appeal and approach.

RAKEZ Group CEO, Ramy Jallad, attributes this success to their “progressive approach, industry leading business solutions and unwavering commitment to nurturing businesses of diverse scales.” The major impetus has been on general trading and commercial sectors- representing 650 of the 1500 new companies that have joined it. This has placed RAKEZ at the axis of trading opportunities in the region- with the newly launched Traders District being a crucial catalyst for growth.

The economic zone has also witnessed a tremendous influx of companies from other sectors- such as 600 in services, over 170 in e-commerce and over 100 in media adding to the growing ranks. According to Jallad, their vision is to create “an inclusive and sustainable economic landscape for global entrepreneurs.”