Rakez attracts 13,141 new firms in 2024, achieves record growth

RAS AL KHAIMAH/WAM

Ras Al Khaimah Economic Zone (RAKEZ) announced a significant milestone in 2024, with 13,141 new companies joining its thriving ecosystem.
This represents an impressive 66% growth in new registrations compared to 2023. With this achievement, RAKEZ is now home to nearly 30,000 multinational companies, reinforcing its status as a leading global hub for business excellence.
The growth in 2024 has been driven primarily by commercial activities, including general trading, e-commerce, and related businesses, which together accounted for 53% of the new company registrations.
This reinforces RAKEZ’s reputation as a thriving hub for traders and businesses seeking strategic access to regional and global markets.
Consultancy followed as a key contributor at 24%, with other notable sectors including media and marketing services, wholesale trading, and manufacturing, among many others. This sectoral diversity highlights RAKEZ’s ability to cater to the evolving demands of businesses across a wide range of industries, further solidifying its role as a global business enabler.
“Over the past five years, RAKEZ has welcomed double the number of companies to its flourishing business community, reflecting the growing appeal of Ras Al Khaimah as a hub for innovation and global trade,” said Ramy Jallad, Group CEO of RAKEZ. “This growth highlights our commitment to offering tailored support, streamlined services, and an enabling environment where businesses can expand and reach their full potential. As our community continues to grow, we remain focused on fostering long-term success and unlocking new opportunities for businesses of all sizes and sectors.”
Entrepreneurs and companies from around the world contributed to this growth, with India leading the way as the top source of new businesses. This reflects RAKEZ’s ongoing efforts to strengthen ties with India through strategic initiatives, such as fostering trade relations and leveraging the UAE-India Comprehensive Economic Partnership Agreement (CEPA).
A large number of investors also came from Pakistan, the United Kingdom, Egypt, and the Philippines, among many others. This diverse representation highlights RAKEZ’s global appeal and its strategic location, offering businesses unparalleled access to regional and international markets.
As RAKEZ continues to grow, it is setting its sights on new opportunities to enhance the business landscape in Ras Al Khaimah. “Our focus is on staying ahead of market trends and enabling businesses to thrive in emerging industries,” added Jallad. “With a dynamic ecosystem and strategic global partnerships, we are positioning RAKEZ as a key player in shaping the region’s economic future.”