Ras Al Khaimah (RAK) is one of the seven emirates that make up the United Arab Emirates (UAE). Known for its stunning landscapes, rich history, and diverse economy, RAK has become an increasingly popular destination for tourists and investors alike. In this article, we’ll explore some of the key features of RAK, including its economy, tourism, and RAK Freezone.
Economy
RAK’s economy is diverse, with a particular emphasis on manufacturing, tourism, and services. The emirate is home to a number of industrial zones and free trade zones, including the RAK Freezone. The Ras Al Khaimah Economic Zone (RAKEZ) provides a tax-free environment for businesses, making it an attractive destination for investors looking to set up their operations in the UAE. Additionally, the RAK government has implemented a number of initiatives aimed at promoting entrepreneurship and innovation, such as the RAK Incubator and Accelerator program.
Tourism
RAK’s tourism industry has been growing steadily over the past few years. The emirate is home to a number of world-class hotels and resorts, as well as a range of attractions and activities for visitors. One of RAK’s most popular tourist destinations is the Jebel Jais mountain range, which offers stunning views and a range of activities, such as hiking, ziplining, and mountain biking. RAK is also known for its beaches, historic sites, and cultural attractions, such as the National Museum of Ras Al Khaimah and the Al Jazirat Al Hamra Heritage Village.
RAK Freezone
The RAK Freezone, also known as Ras Al Khaimah Economic Zone (RAKEZ), is one of the most important economic drivers in the emirate. The free zone provides a range of services and facilities to businesses, including customizable office spaces, warehouses, and industrial units. Additionally, the RAK Freezone provides a tax-free environment for businesses, with 100% foreign ownership and 100% repatriation of profits. This has made RAK Freezone an attractive destination for investors looking to set up their businesses in the UAE.