The Ras Al Khaimah Economic Zone (RAKEZ) has officially hit a record-breaking milestone in 2024, with an impressive 66% increase in new company registrations, bringing the total number of businesses within the zone to nearly 30,000. This remarkable growth solidifies RAKEZ’s reputation as a thriving global business hub, attracting companies from diverse sectors such as e-commerce, general trading, consultancy, and manufacturing. With this surge in registrations, RAKEZ is continuing to position itself as one of the UAE’s most attractive economic zones for entrepreneurs and international businesses looking to expand their reach in the Middle East and beyond.
A key driver of this success has been the significant contribution of Indian businesses, which have emerged as the top source of new registrations. This growth is a direct result of RAKEZ’s strategic efforts to strengthen ties with India, leveraging initiatives like the UAE-India Comprehensive Economic Partnership Agreement (CEPA), which has enhanced trade relations and investment opportunities between the two nations. Entrepreneurs and companies from India, alongside those from Pakistan, the UK, Egypt, and the Philippines, have recognized the immense value of RAKEZ’s business-friendly environment, strategic location, and diverse industry focus.
E-commerce, trading, and consultancy sectors have played a crucial role in driving the majority of this growth. As the global demand for online services and trading platforms skyrockets, RAKEZ has adapted by offering specialized support for these industries, ensuring that businesses within the zone have access to cutting-edge technologies, logistical solutions, and a network of like-minded entrepreneurs. The surge in new businesses within these industries underscores the growing appeal of RAKEZ as a launchpad for startups, established enterprises, and international corporations alike.
With nearly 30,000 businesses now operating within the zone, RAKEZ is set to further enhance its global partnerships and broaden its ecosystem. Group CEO Ramy Jallad emphasized the importance of staying ahead of market trends and continuing to provide tailored support for businesses across all sectors, ensuring long-term success and fostering a culture of innovation. As RAKEZ continues to expand its reach and offerings, it’s positioning itself as the ultimate business enabler in the region, ready to unlock new opportunities for growth in 2025 and beyond.
