Ras Al Khaimah, UAE– Ras Al Khaimah Economic Zone (RAKEZ) welcomed over 4,200 new companies to its business community in 2022, recording 18 percent growth compared to 2021.
The economic zone recorded a 206 percent growth in new general trading companies, with 413 licenses issued. E-commerce businesses were second with a 26 percent hike, followed by services at 15 percent and commercial at 9 percent. Most investors came from the UAE, India, Russia, the UK, Egypt and Pakistan, respectively.
Companies operating from RAKEZ also witnessed exponential growth in 2022, with 160 companies expanding their operations in various sectors.
Among the industrial sector are manufacturers of automotive and parts, metal fabrication, machinery and equipment, building systems, consumer care, and recycling materials.
Some of them include spice producers Sai Flavours, packaging products manufacturer Universal Carton, paper bag manufacturer Manchester Paper Bags Manufacturing, rubber product’s manufacturer Asian Rubber Industry, perfume and beauty products and perfume producer Oudh Al Anfar Manufacturing, and plastic packaging producer Eurocap, among others.
Commenting on this economic growth, RAKEZ Group CEO Ramy Jallad said, “The fact that thousands of new companies have chosen us is a testament to our progressive strategies, innovative solutions, and continuous efforts in supporting businesses of various types and sizes.”
