Ramy Jallad, CEO of the Economic Zone Ras al-Khaimah (RAKEZ), shared with LDaily readers the experience of the success in the business organization: established in 2017, in such a short period of time, this economic assistance entity has established the provision of a full range of services for registration, organization and conducting the business, formed the efficient and profitable business environment, and created all the conditions for successful global investments.
LDaily: We would be glad to hear from you about RAKEZ.
Ramy Jallad: It is an energy business and the industrial center in the UAE. We are offering solutions for business to free economic zone and non-free zone. We are home to startups, small and medium enterprises, freelancers, and industrialists, flourishing in over 50 industries. We are attracting the global investors to a profitable environment, offering customized business solutions, first-class amenities and services within a single window.
LDaily: What are your main markets for investment? Are you considering Ukraine?
Ramy Jallad: India is one of our leading key source markets. Largest client population based on nationality – 22% of our over 15,000 clients. Other key source markets: United Kingdom, UAE, GCC, Europe, China.
Every market is an opportunity for us, including Ukraine. Currently home to over 135 companies from Ukraine.
Our aim: Support global investors in setting up and expanding their business to the UAE.
LDaily: How does RAKEZ support investors who set up businesses in the UAE? What kind of a value proposition does RAKEZ offer?
Ramy Jallad:
Ras Al Khaimah’s USPs:
1. Up to 50% lower cost of living and conducting business
2. Easy access to markets across Europe, Asia, and MENA via 5 major seaports and airport
3. Freedom to source cost-effective labour
4. No customs duties on imported and re-exported goods
RAKEZ USPs:
1. Customers come first: simplified processes, one-stop-shops, expert client representatives, self-service client portal accessible 24/7
2. Cost-effectiveness: cost of living and cost of setting up and running a business is 50% less than in the region
3. Customization of products and services: select from our wide-ranging business solutions according to your needs
Clients are at the heart of what we do. We’re attracting new investors because we actually care about what they want. Understand their needs, react positively to those needs, and enhance their experience.
LDaily: What measures are being taken through RAKEZ to reduce red tape for international investors?
Ramy Jallad: We launched a one-stop-shop service centers, clients can accomplish everything in one location: licensing, leasing, and visa applications, renewals, amendments, support services, and more. Also serves as a focal point for obtaining approvals from various government entities, such as RAK Civil Defence, RAK Municipality, EPDA, Immigration, etc. This concept has been adapted on a digital scale, “one-click shop”.
Company formation:
1. No need for physical presence
2. Required documents can be scanned (original to be submitted when the current situation eases)
3. E-signature for the registration form and other important documents
4. License and other company formation documents will be issued electronically
24/7 access to wide-ranging services through RAKEZ Portal 360:
1. Licensing services – renewal, changing activities, amendments
2. Leasing services – renewal, amendments
3. Visa services – renewing, applying for new visas for additional employees, visa cancellations, and even dependant visas
4. Payment of services
5. And many more
Value-added services through Mazeed Services – clients can request for these services by simply contacting our team.
1. Attestation and translation of documents
2. Courier services
3. Digital marketing
4. Legal, VAT and accounting consultancies
5. Manpower recruitment
6. And many more
We were awarded by FDI Global Free Zones of the Year in 2018 for red tape reduction. We have international offices in India and Germany to provide more accessibility to clients.
LDaily: In the economic area of Ras Al Khaimah (RAKEZ) contains an impressive list of companies from various sectors. Could you please tell us about some of the leading brands operating in RAKEZ?
Ramy Jallad:
SMEs:
Inmatec, nitrogen and oxygen generators manufacturer
Inoclad Middle East, building contracting company
Avionic Global, general trading company
Industrial Clients:
UTICO, the largest full-service private utility provider in the region
Metalfab General Contracting LLC, design, engineering, fabrication, surface preparation & protection, installation, erection & commissioning of oil & gas projects.
Ashok Leyland, one of the leading vehicle manufacturers in the world
Motherson Sumi Systems, one of the global leaders in the field of automotive wire manufacturing
Ahmed Tea, one of the leading tea makers in the world
Dabur Naturelle, one of India’s largest Ayurvedic medicine and natural consumer products manufacturer
LDaily: How has pandemic Covid-19 affected the willingness of investors to launch a business in the UAE?
Ramy Jallad: Investors remain optimistic. We are continuously seeing a boom in particular sectors such as e-commerce, e-learning, and media. We were quick to respond to the market shifts – able to cater to the demand. We made it more attractive to set up a business in the UAE during the pandemic by launching new packages with added benefits at cost-effective rates:
LDaily: What are your plans for the future for attracting additional investments?
Ramy Jallad: We are focusing on digitizing our processes, products, and services. Making our IT technology and communications even more robust: exploring new systems to help us continue thriving in the new normal. Digitization allows us to reach investors wherever they are in the world. Conducting more webinars in collaboration with Consular Offices and Business Councils. We will resume international roadshows and exhibitions once the current global situation ends.
We have a dedicated RAK FDI team, in cooperation with Ras Al Khaimah government authorities. Accelerates our ‘why choose RAK?’ theme from marketing, packaging, and opportunities perspective, and aligning all our roadshows with all our sister entities, whether it’s tourism, industry, real estate, or manufacturing. We’re going out into the world as one unified Ras Al Khaimah team to attract investors to RAK and use everything that we have here.
We also provide business trips for the investors, support them, and becoming strategic partners in the main stages of investing – from the assessment of business cases to the creation of a business.
We’ve also implemented a wealth of enhancements since we launched RAKEZ and we’re going to continue that momentum.
Please read: Crisis: a guideline for publicly exposed companies
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