The UAE, being committed to global expansion and embracing the most attractive and the most rewarding of all markets, has always managed to make a name for itself in the global trade environment. Almost all relevant players in this dazzling ecosystem, such as the Ras Al Khaimah Economic Zone (RAKEZ), which has done a very good job in 2024 by taking in 13,141 new startups that now belong to their community without struggling, are making a large contribution. The fantastic 66% boost that 2023 oversaw was outstanding indeed, showing that investors are increasingly sought-after and are attracted to Ras Al Khaimah Economic Zone for business setup in UAE, providing ideal conditions for both invention and trade with other countries.
Commercial Activities Drive Growth: A Hub for Traders and Entrepreneurs
The phenomenal growth in 2024 has been driven by commercial activities, including general trading, e-commerce, and related sectors. These industries accounted for 53% of the new registrations in RAKEZ, reinforcing the region’s reputation as a thriving center for businesses seeking access to both regional and global markets. At BLZ, we’ve seen the rise in demand for these sectors and have been helping businesses navigate this ever-evolving landscape.
The diversity of industries represented in RAKEZ is equally impressive. Consultancy services contributed 24% of the new company registrations, while sectors like media, marketing, wholesale trading, and manufacturing also saw substantial growth. This broad range of industries underscores RAKEZ’s ability to cater to the needs of businesses across different sectors, and it is a trend we are excited to continue supporting at BLZ.
A Global Hub for Multinational Companies
One of the biggest highlights of RAKEZ’s growth is the number of international businesses joining the zone. India, being the top source of new companies, is a reflection of the UAE’s strong relationship with India especially with the UAE-India Comprehensive Economic Partnership Agreement (CEPA). Pakistan, UK, Egypt and Philippines are also well represented, showing RAKEZ’s global appeal.
This international community at RAKEZ is a testament to the UAE’s position as a trade gateway and at BLZ we are happy to help businesses from around the world to enter and grow in the UAE market. Whether you are a start up from India or an established business from UK, RAKEZ is the perfect platform doe company formation and expansion of your business into MENA and beyond.
The Future of Business in the UAE
RAKEZ’s growth in 2024 is part of a bigger picture in the UAE business landscape. As more and more businesses come to Ras Al Khaimah for its location, regulations and infrastructure, BLZ is here to support them on their journey in company formation and expansion across the globe. With RAKEZ’s focus on being ahead of the curve and emerging industries, businesses will thrive in a dynamic and forward-thinking environment.
At BLZ we’re not just watching this growth; we’re contributing to it. Our mission is to give businesses the tools, advice and support they need to succeed in this market. As RAKEZ evolves, we’ll be here to guide you every step of the way – so your business can reach its full potential in the UAE.
So, RAKEZ’s growth in 2024 is a big moment for businesses looking to go global. With its infrastructure, ecosystem and tailored support, RAKEZ is the ultimate opportunity for businesses of all sizes and sectors. At BLZ we’re part of this growth story and we’ll help you in every step of business set up in UAE and unlock your full potential.