Rak Business
RAK business mainly depending on industry. Ras Al Khaimah is one of the seven emirates forming the UAE federation.
It is the northernmost emirate, located approximately 100 kilometers north-east from Dubai to which it is connected by the dual carriage Emirates Road, a coastal highway, and by a number of small single carriage roads.
[SinglePic not found]Ras Al Khaimah ranks among the smaller emirates of the UAE federation but it has always had an important position.
In the past it was a centre of traditional shipbuilding and maritime commerce, more recently as a centre of quarrying, manufacturing and tourism.
Since 2003, Ras al khaimah government has been pursuing the policy of diversification of the economy, industrialization and promotion of tourism, investment into education and public health and by investment into public utilities.
Its gas reserves are more important but revenues from gas are also of a lesser importance than in other emirates and the emirate has had to look beyond its borders to fulfill its demand for gas.
As the emirate will never be a major oil producer, RAK has instead had to concentrate on developing its industrial sector. Rak business boasts the largest rock quarry in the Gulf Region.
Cement and ceramics remain the dominant industries in RAK and officials aim to make these sections regional and global leaders in terms of production.
The Emirate is rich with the raw materials such as limestone, clay, quartz and other minerals.
Rak business is unique in the Gulf region as it has a high concentration of leading industrial units which process these natural resources and manufacture various types of cement, clinker, ceramics and other building materials.
[SinglePic not found]It opened the UAE’s first cement company in the early 1970s and is now the UAE’s largest producer of cement.
The emirate formed RAK Ceramics in 1980s, which has become the world’s largest ceramics producer, and Julphar, the Gulf region’s first pharmaceuticals company.
Since the 1980, other advanced manufacturing companies have set up operations in Rak business, including companies producing glass, CD and DVD discs, air-conditioning equipment, machinery parts, metal products and others.
More traditional industries, such as fishing and agriculture, continue to play an important role in RAK’s economy.
In 1955, the first agricultural research centre in the UAE was established there, and since then, innovative methods of arid zone cultivation have made the emirate one of the leading agricultural producers in the UAE.
Ras AL Khaimah is well known for its dairy and poultry products, eggs, fodder and animal meat. In addition to this, the fertile plains in the south-east produce fruits and vegetables for the local UAE market.
Tourism is also an area of targeted development in RAK business and RAK is in the process of boosting its meetings, incentives, conferences and exhibitions (MICE) segment through several projects, the largest of which is the construction of RAK Convention and Exhibition.
The ongoing expansion of RAK International Airport will also significantly increase tourist capacity.
Alongside these ambitious development goals, the emirate is also keeping its feet on the ground and the preservation of its unique heritage remains a main priority, ensuring that visitors will be continually drawn back to this culturally rich and geographically diverse place.
The emirates location at the crossroads of Europe and Asia lends itself to attractive RAK business opportunities that should help to develop the sector further and RAK FTZA hopes to double the number of registered companies in the next three years.
Rak Free Trade Zone has created a system of four parks-Business Park, Industrial Park, Technology Park and Al Ghayl Industrial park-that offer identical advantages and benefits to investors.
The three park concept includes the Business Park, industrial park and technology park, offering offices, equipped warehouses and land facilities situated in different locations across the emirate of Ras al khaimah, each park caters to the specific business interests and activities of the Rak FTZ investors.
The growth of industrial and free zones has been impressive given the significant free zone space throughout the UAE and while the emirate’s authorities are seeking to complement rather than compete with their neighbors, it is clear industrial land availability and prices are favorable in RAK business.
[SinglePic not found]Ras Al Khaimah Free Trade Zone offers numerous incentives to its companies:
- 100% foreign ownership
- 100% income and corporate tax exemption
- 100% capital & profit repatriation
- Long term renewable lease
- Strategic location with access to over 1.2 billion consumers
- Transparent laws and regulations
- Promotion centers in Dubai and Abu Dhabi
- Simple and fast application procedures
- State of the art communication facilities
- Excellent Sea port and International Air port facilities
- Easy international Access
- Abundant energy supply
As the youngest of all of the Free Zones in the UAE, Ras Al Khaimah Free Trade Zone has built its international reputation and infrastructure only after careful research, planning and development, resulting in the introduction of a unique, ambitious 3 Park concept that did not exist previously in the UAE or even within the region, and the provision of premier business facilities for RAK ftz investors within other Emirates.
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