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% increase compared to the same period in 2022, further cementing Rakez’s role as an accelerator for business growth, fostering an investment-friendly climate.

 

General trading and commercial sectors emerged at the forefront with around 650 new companies. This surge in trade and commerce-centric businesses positions the free zone as a bustling hub for traders with its recently launched Traders District, playing a crucial role in catalysing this growth.

 

On the key achievement, Rakez Group CEO Ramy Jallad said: "Our strong performance in Q2, 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," he stated.

 

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, UK, Egypt and Russia, highlighting the global appeal of the emirate’s conducive business environment.

 

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, it added.

 

As Rakez steps into the second half, Jallad said it remains dedicated to providing an adaptive and supportive ecosystem for investors looking to expand their horizons and grow in a dynamic, business environment. 

 

"We will continue enhancing our services, facilities, and products to meet evolving business needs, and to further empower companies to reach their full potential, setting the stage for their future success in the UAE and beyond," he added.-TradeArabia News Service