Ras Al Khaimah Economic Zone (RAKEZ) has leased over 12.8 million square meters of land for various industrial and commercial projects, and has also provided an additional 6 million square meters for attracting new investments, reflecting its commitment to supporting business growth and expanding investment opportunities, according to Raki Phillips, CEO of RAKEZ. Phillips told the Gulf News that RAKEZ is one of the most attractive investment destinations in the UAE, offering vast areas of developable land to meet the needs of investors, and has a variety of industrial zones, each with a strategic location and unique competitive advantages, ensuring that different types of industries can thrive. The industrial zones include the Ghail Industrial Zone, which is close to the main highways, making it easy to transport goods to various parts of the UAE and the Gulf region, the Hamriyah Industrial Zone, which is close to the Hamriyah port and Ras Al Khaimah International Airport, making it ideal for light and medium industries that rely on fast transportation and logistics services, and the Halil Industrial Zone, which is close to the Saqr Port, one of the largest ports in the Middle East, making it ideal for heavy industries and large projects that rely on exports and imports. Each industrial zone is designed to support investors' needs through a comprehensive infrastructure, with easy access to global markets, and a range of competitive incentives, including customs and tax exemptions, flexible solutions for industrial land, allowing companies to establish factories, warehouses, and administrative offices according to their needs. Phillips said that RAKEZ is witnessing a high demand for industrial land from local and international investors who seek to take advantage of its competitive advantages, and as the economic growth in Ras Al Khaimah continues, the need for more industrial and commercial spaces is increasing, reflecting the high trust that investors have in RAKEZ as a comprehensive economic center. The incentives provided by RAKEZ include a 0% corporate tax rate for eligible activities, customs and tax exemptions, and a range of competitive solutions for industrial land, allowing companies to establish factories, warehouses, and administrative offices according to their needs. Phillips said that RAKEZ also provides full ownership and repatriation of profits, allowing foreign investors to own 100% of their companies without the need for a local partner, and to repatriate 100% of their profits and capital without any restrictions, making it easy to manage their finances and investments, and increasing the freedom of movement of funds within and outside the country. RAKEZ has three designated zones that benefit companies registered in them from a 0% tax rate on eligible activities, such as distribution, storage, and inventory management, subject to compliance with regulatory requirements, and provides simplified customs procedures, making it easy to import and export raw materials and finished products, and ensuring flexibility in the movement of goods between markets. RAKEZ also provides long-term residence visas for investors, executive directors, and their families, making it easy for them to settle and manage their businesses in the UAE, and provides facilities for obtaining work visas for employees, making it easy for companies to attract global talent. Additionally, RAKEZ allows the establishment of employee housing within the industrial zones, reducing housing and transportation costs, and increasing employee comfort.
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