In 2017, the government of Ras Al Khaimah announced the launch of Ras Al Khaimah Economic Zone (RAKEZ). This event was attended by many high profile dignitaries, policymakers, businessmen, media members and clients of RAK FTZ and RAKIA.
RAKEZ is a world-class authority established to oversee, regulate and consolidate the services, facilities and zones of Ras Al Khaimah Free Trade Zone (RAKFTZ) and RAK Investment Authority (RAKIA). These two zones united last year by combining their boards and management boards to streamline their activities and boost service delivery to the clients. Established in 2017, RAKEZ grows on 17 years of consistent value generation by RAK FTZ and RAKIA. It is now one of the largest economic zones in the region covering about 33 million square meters of land and housing over 13,000 companies currently served by RAK FTZ and RAKIA.
Terming formation of RAKEZ as an important milestone for the free zone landscape in Ras Al Khaimah, higher authority described their hard work to establish this new authority shall diversify its offerings to attract a broad client base and grow the number of investors; driving overall growth of the Emirates.
This year is assumed to be the right time to strengthen the RAK FTZ and RAKIA resources into one strong unified brand. Optimistic outcome is expected from RAKEZ that will help Ras Al Khaimah to become a leading global investment destination. This union is the first step towards taking customer experience to the next level by committing to provide an exceptional service delivery, simplified processes and cost-effective solutions. It will have a significant impact on existing clients, potential investors and the economy to a great extent. This venture is also supported by the government and private stakeholders to impel a seamless service to the clients and to ensure stability of their business.
With growing markets of the Middle East, North Africa, Europe, South and Central Asia, RAKEZ offers its clients easy access to local markets of the UAE. Companies operating in diverse industry sectors; manufacturing, consulting, trading, logistics, academic, media etc get free zone and non-free zone licenses through RAK FTZ and RAKIA. RAKEZ currently hosts over 13,000 companies from entrepreneurs and startups to SMEs and manufacturers covering over 50 industries from over 100 countries. The new entity presents a wide range of premium customizable and cost effective facilities for existing clients and potential investors through its five specialized zones- RAKEZ Business Zone, Al Hamra industrial Zone, Al Ghail Industrial Zone, Al Hulaila Industrial Zone and RAKEZ Academic Zone. All clients have access to three local offices in Ras Al Khaimah as well in offices in Dubai, Abu Dhabi, India, Turkey and Germany.
As a comprehensive investment destination, the new entity presents a wide range of premium customizable facilities, enhanced levels of service and five diversified and strategically located zones for all types of business setups, including startups, entrepreneurs, SMEs and manufacturers, all within the unique and cost-effective environment of Ras Al Khaimah.
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