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Ras Al-Khaimah Economy

 

Business Environment

Due to it’s geographical location and history Ras al-Khaimah was formerly known as a centre of traditional shipbuilding and maritime commerce. Although Ras al-khaimah is still know for these more recently the focus has been turned toward the industry sector, manufacturing and tourism.
Ras al-Khaimah opened the UAE’s first cement company in the early 1970’s and is now the UAE’s largest cement producer. In the 1980’s Ras al-Khaimah came to be known for its world known ceramics, RAK Ceramics, now one of the largest ceramics producers in the world. Finally Ras al-Khaimah opened the Persian Gulf Region’s first pharmaceuticals company.
More Traditional industries such as fishing and agriculture continue to play an important role in RAK’s economy and innovative methods have made the emirate one of the leading agricultural producers in the UAE. Recent efforts have been made to further diversify the emirate’s economy.



Ras al-Khaimah Free Trade Zone (RAK FTZ)

The Ras al-Khaimah Free Trade Zone authority was founded in 2000 and has been operating successfully since. The Free trade zone provides modern technology, facilities, and offers custom made or on demand business services to investors. Furthermore it offers investors a range of services from the legal sector to human resources to marketing assistance.
The RAK FTZ has a unique three-park concept allowing and offering a place for business for each individual, business or investment. The Ras al-Khaimah Free trade zone is one of the fastest growing free trade zones with over 5000 registered companies from more than 106 countries. Supported by a legislation allowing 100 per cent foreign ownership, a tax-free environment and transparent laws RAK FTZ has become a world-class business hub and vehicle for industrial growth and development.

1)

The Business Park: Located in the central business district it offers sophisticated offices in a well-developed business location. The business park gives the opportunity of starting a business with no hassles.

 

2)

The Industrial Park: Located along the Ras al-Khaimah coastal road it is developed for construction of heavy industries and warehousing. Services can include employee accommodation, offices, operations and logistic support, etc.

3)

The Technology Park: located south of Ras al-Khaimah and covering an area of about 100 hectares it is devoted to light industry and automated manufacturing facilities.
Advantages of the RAK FTZ: