Monday 17 , March 2025

His Highness Sheikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah, affirmed that the emirate, driven by its ambitious vision, has developed an integrated economic system and a competitive investment environment. This supports strategic partnerships with various countries and stimulates economic cooperation across diverse sectors, strengthening its growing status as a global business hub and advancing its sustainable development goals. This was while H.H. was attending the Ras Al Khaimah Economic Zone (RAKEZ) annual ceremony, held at the Al Hamra International Exhibition and Conference Centre in the emirate. The event celebrated RAKEZ's achievements and its success in meeting its economic objectives for 2024, in the presence of its strategic partners, business leaders, and representatives from government entities. H.H. Sheikh Saud bin Saqr Al Qasimi highlighted the central role of the economic sector in implementing the emirate’s development plans, noting that it is a key contributor to Ras Al Khaimah’s GDP and overall progress. His Highness stressed the emirate's commitment to unifying visions and mobilizing all resources to enhance the sector’s performance, resilience, and competitiveness at both regional and global levels. Sheikh Saud commended the vital role of strategic partners, including business leaders and investors, in supporting the emirate’s economy and fostering strong growth through economic partnerships that drive mutual interests and transform challenges into opportunities for success and prosperity. H.H. Sheikh Saud underlined that this approach aligns with investors’ aspirations for expansion and market access, reinforcing Ras Al Khaimah’s position as a secure and stable investment destination. Furthermore H.H. praised RAKEZ’s 2024 achievements and its efforts in advancing the emirate’s economic vision by enhancing legislative frameworks, improving the business climate, attracting foreign direct investment, and bolstering Ras Al Khaimah’s competitiveness in priority economic sectors. The ceremony was attended by heads and directors of Ras Al Khaimah’s government entities, officials from federal ministries and agencies, business leaders, investors, and senior officials from RAKEZ. It is worth noting that the rate of registering new corporations in RAKEZ reached an annual growth rate of 76% as the number reached 13000 companies in 2024 against 4000 in 2022. The annual growth of total number of companies operating in RAKEZ reached 33%, rising from17000 company in 2022 to 30000 in 2024. Thanks to such growth, RAKEZ became the first, in the northern emirates, and the second in UAE in terms of the total of companies' number and the new companies’ registration.