RAS AL KHAIMAH: The Ras Al Khaimah Economic Zone, RAKEZ, aims to attract more investors, through focusing on customer service and facilitating investments, including in its customised facilities, as well as by supporting start-ups, small and medium-sized enterprises, SME, and industrial companies.
India is among the zone’s key clients, due to the good bilateral ties between the two countries that have witnessed significant progress in recent years. The RAKEZ office in the Bandra Kurla Complex in Mumbai has played a significant role in reinforcing its ties with Indian clients.
RAKEZ is home to over 3,300 Indian companies operating in various sectors, including 1,636 commercial companies, 932 services companies, 346 general trading companies, 89 industrial companies, 62 media companies, 21 educational institutes and companies, and over 200 companies operating in the fields of e-commerce, independent business and professional companies. These companies are located in specialist areas within RAKEZ, such as the business and industrial zones in Halilah, Hamra, Gail and the Academic Area. Around 350 Indian companies have joined RAKEZ since the start of 2019, and this number is expected to increase by the end of 2019.
RAKEZ comprises a group of prestigious Indian companies, such as Ashok Leyland, GK Technologies and Perfect Polymers, as well as Daber, Concept Flexible Packaging, and Motherson Sumi Systems, which plans to build a new industrial zone within RAKEZ that is under construction on land exceeding an area of 21,000-square metres in the industrial area of Hamra. The new zone is expected to formally commence operations in the second quarter of 2020.
One of RAKEZ's key initiatives for attracting Indian companies to the emirate is the hiring of former Indian cricketer Ravi Shastri, India National Cricket Team Coach and TV Commentator, as its corporate ambassador, as he is a prominent sporting figure who can promote RAKEZ and Ras Al Khaimah.
© Copyright Emirates News Agency (WAM) 2019.