Ras Al Khaimah, UAE – In an impressive display of economic vitality, a free zone in the United Arab Emirates (UAE) has experienced a surge in business activity, welcoming more than 1,500 new companies during the second quarter of 2023. Ras Al Khaimah Economic Zone (RAKEZ) has witnessed a remarkable 132 percent increase compared to the same period in the previous year, solidifying its position as a leading facilitator for business growth in the UAE.
The CEO of RAKEZ Group, Ramy Jallad, attributes this exceptional growth to the organization’s progressive approach, industry-leading business solutions, and unwavering commitment to nurturing businesses of all scales. He expressed his satisfaction with the strong performance in Q2 2023, emphasizing that the diverse range of sectors represented by the new companies joining RAKEZ reaffirms the vision of creating an inclusive and sustainable economic landscape for global entrepreneurs.
The influx of new investors from various parts of the world to Ras Al Khaimah demonstrates the international appeal of the emirate’s investment-friendly climate. Notably, the majority of these investors originate from countries such as India, Pakistan, the UK, Egypt, and Russia. Their choice to establish their businesses in Ras Al Khaimah reflects the attractiveness of the region as a conducive environment for economic growth.
Among the industries driving this surge in new businesses, the general trading and commercial sectors took the lead with approximately 650 new companies. This influx of trade-centric enterprises solidifies RAKEZ’s position as a bustling hub for traders, with its recently launched Traders District playing a pivotal role in catalyzing this growth.
In addition to the trading and commercial sectors, RAKEZ witnessed a notable increase in other industries. The services sector saw the establishment of over 600 new companies, while e-commerce and media sectors each welcomed over 170 and 100 companies, respectively. This diverse range of sectors highlights the broad spectrum of opportunities available within RAKEZ and its commitment to accommodating businesses from various fields.
Looking ahead to the second half of 2023, RAKEZ remains dedicated to providing an adaptive and supportive ecosystem for investors seeking to expand their horizons and thrive in a dynamic business environment. The organization’s focus on fostering growth, coupled with its commitment to nurturing businesses, positions it as a leading catalyst for economic development in the UAE.
The remarkable growth witnessed at RAKEZ in the second quarter of 2023 serves as a testament to the emirate’s strong economic foundation and the collaborative efforts of government and private entities in creating a conducive environment for business growth. As the UAE continues to attract investors from around the globe, RAKEZ stands out as a premier destination for companies looking to establish a strong presence in the region. With its forward-thinking approach and commitment to supporting businesses, RAKEZ is poised to play a significant role in shaping the future of the UAE’s economy.
