20 Oct RAK FTZ and RAKIA are now part of RAKEZ
Ras Al Khaimah Economic Zone (RAKEZ) is an authority established by the government to supervise, control and amalgamate the services, amenities and zones of Ras Al Khaimah Free Trade Zone (RAK FTZ) and RAK Investment Authority (RAKIA). RAKEZ offers easy access to the UAE’s local markets as well as the Middle East, Europe, North Africa, and South and Central Asia. RAKEZ has now become one of the largest economic zones in the region aided by RAKIA and RAK FTZ.
RAK’s two prominent free zones began their alliance in 2016 by merging their management and board teams. Leading as Chairman, His Highness Sheikh Ahmed bin Saqr Al Qasimi and Group CEO Ramy Jallad. The back-office functions of the two entities were combined to streamline their activities and improve service delivery to clients.
The Chairman of RAKEZ, His Highness Sheikh Ahmed bin Saqr Al Qasimi, said:
The formation of RAKEZ marks an important milestone for the free zone landscape in Ras Al Khaimah. We have established a new Authority that will drive the emirate’s development by diversifying its offerings to attract a broad client base and grow the number of investors. It is our firm belief that after nearly two decades of operating independently, the time is right to leverage the combined resources of RAKIA and RAK FTZ under one strong, unified brand. We are confident that with RAKEZ, we will start an exciting journey that will help achieve our vision for Ras Al Khaimah to become a leading global investment destination that is better able to serve our clients.
RAKEZ provides free zone, and non-free zone licences through RAKIA and RAK FTZ for firms functioning in various industry sectors including, consulting, manufacturing, logistics, trading, media, academic, and so on.
The Group CEO of RAKEZ, Ramy Jallad, had mentioned that RAKEZ would have a significant impact on existing potential investors, clients and the economy at large. He also said that the authority looks forward to meeting their investors’ and clients’ needs and empowering their growth.
RAKEZ has promised to be committed to assisting Ras Al Khaimah’s vision of being a prominent investment destination for investors all around the world and substantially contributing to the emirate’s economic growth.
GCC Solutions provides company formation services within the RAK FTZ jurisdiction. We work in close corporation with RAK FTZ as a registered agent and can provide offshore company set up services to create a bespoke offshore company.