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

RAS AL KHAIMAH, 30th June, 2023 (WAM) — Ras Al Khaimah Economic Zone (RAKEZ) has announced the addition of over 1,500 new companies in the second quarter of 2023.

This robust growth represents a remarkable 132 percent increase compared to the same period in 2022, further cementing RAKEZ’s role as an accelerator for business growth, and fostering an investment-friendly climate.

Speaking on the achievement, RAKEZ Group CEO Ramy Jallad said, “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.”

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, the 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.