This Freezone in UAE Witnessed 122% Growth in Q1 2023

UAE’s Ras Al-Khaimah Economic Zone (RAKEZ) has seen impressive growth, now hosting over 18,000 companies from 100 countries.

RAKEZ caters to a wide range of industries with over 50 sectors serving both small and large businesses. It has become a top choice for international traders in Ras Al-Khaimah.

The business-friendly environment and other favorable factors make it highly attractive for setting up and expanding operations. RAKEZ offers six zones made for different business needs, accommodating small and medium-sized enterprises (SMEs) and large manufacturers.

Entrepreneurs can enjoy flexible business operations and valuable networking opportunities at the modern RAKEZ Compass Coworking Centre. Meanwhile, RAKEZ Academic Zone is home to prestigious international educational institutions.

In the first quarter (Q1) of this year, RAKEZ welcomed 1,839 new companies, showing a remarkable 122% growth compared to the same period last year.

In 2022, RAKEZ attracted over 4,200 new companies, marking an 18% year-on-year (YoY) growth. It achieved this by offering specialized setup packages, introducing new products and services, and forming strategic partnerships, particularly benefiting SMEs in trade and e-commerce.

RAKEZ experienced a significant 206% increase in new general trading companies, issuing 413 licenses. The investment-friendly environment and streamlined processes have successfully attracted investors from around the world to Ras Al Khaimah and UAE.

Published by
Salman Ahmed