Ras Al Khaimah (RAK), one of the seven emirates of the UAE, has emerged as a prominent global investment hub, attracting over 1,500 new companies in the second quarter of 2023—a remarkable 132% increase compared to the same period last year. This surge underscores RAK’s investor-friendly environment, characterized by strategic initiatives and robust economic policies. The emirate’s strategic location, within a four-hour flight of one-third of the world’s population and just a 45-minute drive from Dubai, enhances its appeal to international businesses.
RAK’s diversified economy spans sectors such as manufacturing, tourism, real estate, and renewable energy. Notably, the emirate is home to RAK Ceramics, one of the world’s largest ceramics manufacturers, and has seen significant real estate developments like the $3.9 billion Wynn Al Marjan Island project. The Ras Al Khaimah Economic Zone (RAKEZ) plays a pivotal role in this growth, offering tailored, low-cost services for companies, including both free zone and mainland operations, making it an attractive location due to low operating costs, one of the world’s lowest corporate tax rates, and significant business incentives.
