RAS AL KHAIMAH: Ras Al Khaimah Economic Zone (RAKEZ) had growth in the second quarter of 2023, with the addition of more than 1,500 new companies. This impressive increase of 132 percent compared to the same period last year solidifies RAKEZ’s reputation as a catalyst for business expansion and a welcoming investment destination. Investors from various countries, including India, Pakistan, the UK, Egypt, and Russia, are attracted to the favourable business environment offered by Ras Al Khaimah.
RAKEZ Group CEO Mr. Ramy Jallad stated that, “Our strong performance in Q2 2023, 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.”
The majority of the new companies belong to the general trading and commercial sectors, accounting for around 650 entities. This surge in trade-related businesses establishes RAKEZ as a vibrant hub for traders, bolstered by the recent launch of the Traders District, which has played a crucial role in driving this growth.
Moreover, RAKEZ has witnessed significant increases in other sectors, such as services (over 600 companies), e-commerce (over 170 companies), and media (over 100 companies).
Moving forward into the second half of 2023, RAKEZ remains committed to providing a flexible and supportive environment for investors seeking to expand their businesses and thrive in a dynamic marketplace.