Bolstering ease of doing business in the UAE

The UAE’s growth continues unabated over the years. From around Dh510 billion in 2006, the country’s GDP reached Dh1.58 trillion in 2015. The country’s strong economic performance is well supported by its non-oil sectors that make up 70 per cent of the economy.

With an aim to support the UAE’s goal of further increasing the non-oil sector’s contribution to 80 per cent, the government of Ras Al Khaimah took a giant leap forward in 2017 by revolutionising its investment landscape. It introduced one of the largest and most cost-effective economic zones in the region: Ras Al Khaimah Economic Zone (RAKEZ).

RAKEZ is an authority founded to oversee, regulate and consolidate the services, facilities and zones of Ras Al Khaimah Free Trade Zone (RAK FTZ) and RAK Investment Authority (RAKIA), as well as serve their respective clients. It currently houses over 13,000 multinational companies from more than 100 countries covering over 50 industries.

RAKEZ is a customer-centric organisation that focuses on providing ease of doing business. In fact, the best of the best of RAK FTZ and RAKIA have been combined under RAKEZ in order to form a broader spectrum of business solutions for investors to enjoy.

Start-ups, entrepreneurs, and SMEs take advantage of low-cost Flexi facilities or shared workstations as well as bespoke offices. On the other hand, industrial ventures are supported with state-of-theart warehouses and industrial land for development.

Furthermore, RAKEZ allows investors to undertake several processes in one central location. This relieves clients from the hassle of going back and forth, from one authority to another, just to submit documents and obtain approvals for various applications.

Best of all, RAKEZ boasts proficient client representatives who are equipped with the right knowledge and tools to advise and service clients.

Travelling all the way to Ras Al Khaimah just to take care of administrative requirements is also not necessary. With the economic zone’s growing local and international presence, investors can approach any of its Business and Promotion Centres in Ras Al Khaimah, Dubai and Abu Dhabi, as well as liaison offices in Germany, Turkey and India to access its services. RAKEZ’s prime facilities, excellent support services and overall ease of doing business are attracting more and more international investors to come and set up shop in the UAE, particularly in the nurturing and business-friendly environment of Ras Al Khaimah.