RAKEZ fuels economic growth by welcoming over 1,500 new companies Q2 2023

Ras Al Khaimah, 30June 2023:Ras Al Khaimah Economic Zone (RAKEZ) announced the addition of over 1,500 new companies in the second quarter of 2023. This robust growth represents a remarkable 132% increase compared to the same period in 2022, further cementing RAKEZ’s role as an accelerator for business growth, fostering an investment-friendly climate.

Speaking about this achievement, RAKEZ Group CEO Ramy Jallad said, “Our strong performance in the second quarter of the year, with over 1,500 new companies joining us, is a result of our progressive approach, industry-leading business solutions, and unwavering commitment to nurturing businesses of diverse scales. The growth across various sectors, from general trading, and e-commerce, to media, services and manufacturing, reaffirms our vision of creating an inclusive and sustainable economic landscape for global entrepreneurs.”

RAKEZ continues to pull in new investors from around the world to Ras Al Khaimah. The majority of these investors are from countries such as India, Pakistan, UK, Egypt and Russia, highlighting the global appeal of the emirate’s conducive business environment.

General trading and commercial sectors emerged at the forefront with around 650 new companies. This surge in trade and commerce-centric businesses positions RAKEZ as a bustling hub for traders with its recently launched Traders District, playing a crucial role in catalysing this growth.

Additionally, the economic zone witnessed an impressive increase in other sectors, such as services with over 600 companies, e-commerce with over 170 companies, and media with over 100 companies.

As RAKEZ steps into the second half of 2023, it remains dedicated to providing an adaptive and supportive ecosystem for investors looking to expand their horizons and grow in a dynamic, business environment. “We will continue enhancing our services, facilities, and products to meet evolving business needs, and to further empower companies to reach their full potential, setting the stage for their future success in the UAE and beyond,” Jallad added.

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For more information, please contact:

Cleo Eleazar, Public Relations & Events Manager, RAKEZ

Phone: +971 7 2077173; Email: c.eleazar@rakez.com

About Ras Al Khaimah Economic Zone (RAKEZ):

RAKEZ is a powerhouse business and industrial hub established by the Government of Ras Al Khaimah in the United Arab Emirates. It currently hosts over 18,000 companies coming from over 100+ countries and operating in more than 50 industries.

RAKEZ offers entrepreneurs, startups, SMEs and manufacturers a wide-range of solutions, including free zone and non-free zone licences, customisable facilities, and first-class services provided in a one-stop shop. Furthermore, RAKEZ has specialised zones that are tailored to specific needs of investors: Al Nakheel and Al Hamra Business Zones for commercial and service companies; Al Ghail, Al Hamra and Al Hulaila Industrial Zones for manufacturers and industrialists; and an Academic Zone for educational providers.

A leading economic zone, RAKEZ aims to continue attracting diversified investment opportunities that will contribute to the economic growth of Ras Al Khaimah.