topics
This article is part of a dossier
Mr. Ramy Jallad, CEO of the Ras Al Khaimah Economic Zone (RAKEZ) Group, is a nice man. Camped behind him in his office are models of an airplane and a transport ship. He is a logistics expert, but he is an enthusiastic promoter of his country and the UAE in general. Here is what he told Pluralia, explaining his work.
Could you describe what kind of business is growing in the RAKEZ?
RAKEZ is currently home to 25,000 businesses operating across 50 diverse sectors. We welcomed 6,000 new company registrations in the first half of 2024, marking significant year-on-year growth. The service sector leads the way, with around 2,400 new companies registered this year till June, reflecting the increasing demand for consultancy services, event management, marketing, and other professional services that are critical to a wide range of industries. In the same period, the commercial sector also saw considerable growth, with approximately 2,300 new registrations. General trading, wholesaling, and other commercial activities continue to attract a large number of new businesses to the region. We also saw a surge in the e-commerce sector, with nearly 700 new companies joining, underscoring the shift towards digital business models. Additionally, the media sector added around 400 new companies, reflecting the growing importance of content creation and digital media. There is a broad spectrum of opportunities available at RAKEZ, whether in services, commerce, e-commerce, or media. We remain committed to providing a dynamic environment that supports businesses in achieving growth and success.
What kind of facilities do you offer to a foreign company coming to the Emirates?
RAKEZ is more than just a business hub—it’s a partner for growth, designed to give international companies a seamless way to enter and thrive in the Middle East. We offer cost-effective set-up packages, and modern facilities including coworking spaces, offices, warehouses, industrial land, and on-site labour accommodations. Our one-stop-shop approach simplifies the setup process, typically taking between a few hours to two to three days, depending on the business activity and company structure. With our range of competitively priced packages, businesses—whether they’re global corporations or ambitious startups—can find cost-effective solutions that fit their needs. When it comes to regulatory support, RAKEZ offers a pro-business environment that’s flexible and transparent. International companies often want full control over their operations, and with our free zone option, they get exactly that—100% foreign ownership. Add to that significantly lower tax rates, no import or re-export duties, and no personal income tax – giving companies a chance to grow without the usual financial and administrative obstacles. Our goal is to provide a supportive, financially viable environment where businesses can focus on scaling rather than navigating regulatory complexities. Our strategic location in Ras Al Khaimah is another key advantage: positioned at the crossroads of the Middle East, Africa, and South Asia, RAKEZ offers direct access to some of the fastest-growing markets in the world. Proximity to Ras Al Khaimah International Airport and major seaports, like Saqr Port, makes logistics faster and more cost-effective, giving businesses an edge in reaching key markets efficiently. This central point helps companies expand their reach and capitalize on regional and global trade opportunities. RAKEZ has a dynamic business community, offering a supportive, growth-focused environment, where businesses can collaborate, innovate, and lead.
What is your opinion about the topic of cooperation, which will be the focus of the next forum?
Cooperation is a fundamental component of our globalised economy, crucial for sustained growth in today’s fast-evolving business landscape. RAKEZ has strategic partnerships and agreements with several international business councils, trade organizations, and service providers to ensure seamless operations for companies in our community. This year alone, we hosted over 30 diplomatic and business delegations and actively participated in international exhibitions and conducted roadshows across continents. Our collaborations and partnerships with global economic entities this year include initiatives with British Chamber of Commerce Dubai, German Emirati Joint Council for Industry & Commerce, All India Association of Industries, and more. These efforts help our community tap into robust logistical networks and expand its global footprint.
What is your opinion about the foreign labour force? Is it true that you are open to migrants?
Absolutely, Ras Al Khaimah is open and welcoming to people from across the globe. Expatriates from all corners of the world are choosing to make Ras Al Khaimah their home – there are over 60 nationalities residing in the emirate. We offer a rich pool of local and multinational talent, and businesses have the flexibility to source their workforce globally. RAKEZ-based companies currently employ approximately 82,000 workers, predominantly expatriates, reflecting our diverse and inclusive work environment. Business owners, their employees and dependents are eligible for UAE residence visas, with provisions in several RAKEZ business set-up packages to secure visas for their families, facilitating integration and community building.
If you had to say what is the specific quality of Emirates in business, what would you say?
Ras Al Khaimah exemplifies the dynamic blend of cultural diversity and economic vitality that defines the Emirates. The emirate’s strategic location within a four-hour flight of one-third of the world’s population and its proximity to Dubai make it an accessible hub for international commerce and tourism. Economic stability, underscored by consistent ‘A’ range credit ratings, attracts companies from over 100 countries, contributing to a GDP of approximately USD 11.5 billion. Ras Al Khaimah offers an exceptional investment environment with a resilient and diversified economy, key sectors including tourism, hospitality, real estate, and manufacturing. The emirate is also home to RAKEZ—one of the largest economic zones in the MENA region, providing cost-effective setup packages, modern facilities like coworking spaces, offices, warehouses, and industrial land, tailored services to meet diverse investor needs, and a suite of value-added services to ease operations. Additionally, RAKEZ helps individuals and families integrate into the community with high-quality housing options and world-class amenities, contributing to Ras Al Khaimah’s recognition as one of the safest and most fulfilling places to live and work in the world.
Emirates is part of BRICS. What is your idea of cooperation with the so-called Global South? And what about relations with Western countries?
The UAE’s membership in BRICS promotes economic collaboration and growth opportunities with BRICS nations, aligning with our commitment to multilateralism and enhancing ties with emerging markets. Engagement in the forum provides a platform for meaningful exchanges that support economic stability and enhance cooperation in trade and finance, benefiting both the Global South and Western nations. Through this membership, RAKEZ aims to attract businesses from member countries to establish regional headquarters and engage in large-scale industrial and logistical projects. This aligns with our strategic priorities of fostering sustainability and technology-driven growth. The UAE, including Ras Al Khaimah, is committed to strengthening relationships with the global community. We value our international ties and actively pursue global trade agreements that benefit our economic zones. At RAKEZ, we focus on attracting innovative companies and fostering investment in key sectors such as real estate, sustainable development, and digital assets, positioning Ras Al Khaimah as a central hub for business and innovation. Through our strategic partnerships with international business councils and trade organisations, we facilitate seamless operations for community companies. Our active global engagement is showcased by hosting diplomatic and business delegations and participating in international exhibitions and roadshows. Moreover, our global engagements enhance RAKEZ’s role as a gateway for accessing the UAE market and beyond. The increased presence of companies from BRIC members, such as over 5,300 Indian businesses including major players like Dabur and Mahindra, and the expansion of Chinese companies in manufacturing and logistics, highlight the success of our strategic initiatives.
