The emirate of Ras Al Khaimah is quite different from most of other emirates of UAE from economic point of view. Abu Dhabi and several other free zones have abundance of oil & petroleum resources. It is the reason that economic activities in several of these emirates are based on oil industry. In contrast, RAK is quite similar to Dubai in this aspect as both these emirates are short of these natural resources. This forced Dubai and RAK to adopt different strategy. The economy of the emirate of RAK primarily depends on various sectors including agriculture, fisheries, building materials, manufacturing, high-tech and others.
Ras Al Khaimah is providing immense opportunities to flourish different types of big and small industries. An important area where different industries can prosper well is a specific free zone, known as Ras AL Khaimah Investment Authority Free Zone (RAKIA FZ). RAKIA FZ is mainly composed of two industrial parks: Al Hamra Industrial Zone and Al Ghail Industrial Zone. Both these industrial parks provide best facilities for formation of various types of industries. Al Hamra Industrial Zone comprises an area of 9.1 million m2 and favors both light and heavy industries. On the other hand, Al Ghail Industrial Zone is quite large with area of 28.2 million m2. This zone provides facilities only for large-scale industries.
RAKIA and RAK FTZ (RAK Free Trade Zone) are now combined and are part of RAKEZ (Ras AL Khaimah Economic Zone). RAK FTZ is world’s most cost-effective free zone. So is the case with RAKIA that provides one of the world’s best facilities for various industries in quite economical way. Fees and other expenditures for companies in RAKIA are quite cost-effective that makes it ideal for industries of various sizes. It is the reason that it provides unique experience than other such free zone like industry-related ICAD in Abu Dhabi or Dubai Industrial Park – one of the best free zone for industrial sector.
Businesses having their presence in RAKIA avail several types of benefits here. Few of these include:
- Proximity to international airports in RAK and Dubai along with its closeness to major logistic hubs
- Choice of establishing free zone or non-free zone entity in any of these industrial parks
- Availability of labour and staff accommodation
- Availability of land, warehouses and offices of various sizes
- Facilities can be built according to business requirements
- Employees and investors can apply for UAE residence visas
These are few of the several major benefits available for establishment of various light and heavy industries in RAKIA FZ. For further details and practical assistance in setting up your company in RAKIA FZ, you can contact Riz & Mona Consultancy via our WhatsApp # 971-56-9971225 or email address info@rizmona.com. We will assist you in completing the whole procedure quickly and conveniently.
