RAK Investment Authority (RAKIA)

RAK Investment Authority (RAKIA) aims to build a diverse economy with strong, sustainable growth. By attracting investments from both domestic and foreign markets, RAKIA seeks to create wealth and raise the standard of living for the people of Ras Al Khaimah. Furthermore, RAKIA’s mission involves offering comprehensive solutions to meet every investor’s needs, ensuring value and customer satisfaction. They strive to minimize transaction and conversion costs, enable businesses to flourish quickly, and make investing in Ras Al Khaimah simple, easy, and enjoyable.

Expansion and Strategic Business Units

In addition to its local success, RAKIA is expanding by setting up a Free Industrial Zone in Georgia (Eastern Europe), marking the first free zone in the Caucasus Region. Strategically located next to the Poti Sea Port, which is the largest sea port in the Black Sea region, this free zone offers easy access to the EU, Central Asia, and Caucasus/Eastern European markets. Consequently, this location provides a significant supply chain cost advantage for the movement of goods.

Strategic Business Units

RAKIA is structured into eight strategic business units:

• Industrial Parks
• Education/Technology
• Real Estate
• Transportation
• Investments
• Manufacturing & Energy
• RAK Offshore
• RERA

Each business unit is led by an experienced professional responsible for the overall performance of all companies within their unit. They possess the authority to make executive decisions that serve the best interests of RAKIA. Moreover, the investment committee’s primary mandate is to formulate investment strategy, criteria, and guidelines for RAKIA’s investments.

Location and Advantages

Ras Al Khaimah, with its favorable geographical location at the crossroads of trade between the East and West, boasts excellent infrastructure and strong government support for the private sector. Additionally, its unmatched natural beauty has emerged as a destination of choice for investors and leisure travelers alike. Ideally positioned to service and access markets like the Middle East, Africa, the Indian Subcontinent, and the CIS countries, Ras Al Khaimah focuses on manufacturing, services, real estate, construction, and tourism.

Manufacturing Sector

While the drive to attract foreign companies has been a recent development, Ras Al Khaimah has long been an industrial center of the UAE, dominated by the cement, ceramics, and pharmaceuticals industries. Over recent years, the sector has diversified significantly, especially with the creation of free zones and partnerships between the government and foreign investors.

Industrial Activities

Ras Al Khaimah has a natural advantage in cement production due to the Al Hajar mountain range, which contains vast supplies of high-quality limestone essential for manufacturing. Additionally, the emirate is rich in raw materials like clay, quartz, and various minerals. The pharmaceutical industry in RAK has been a focus area of government plans for about 30 years. Gulf Pharmaceutical Industries (Julphar) leads this sector, exporting to over 80 countries and becoming the largest pharmaceuticals manufacturer in the UAE. Although RAK lacks oil resources, it compensates with abundant natural mineral water. Masafi mineral water has developed into a leading international brand, sourced from rich underground springs in the mountainous city of Masafi.

Ceramics Industry

RAK Ceramics stands as the world’s largest ceramic tile manufacturer, operating 12 plants across the UAE, India, Bangladesh, Sudan, Iran, and China. This company produces over 100 million square meters of tiles and 3 million pieces of sanitary ware annually, exporting to 135 countries. The UAE operation is the largest single-location ceramic manufacturing facility in the world, offering a wide range of products to meet diverse consumer needs.

Infrastructure

The government of Ras Al Khaimah continually enhances infrastructure facilities across the emirate, which plays a crucial role in attracting major foreign investments. With a well-planned road network, an international airport, fully equipped seaports, and an advanced communications network, Ras Al Khaimah is well-positioned for rapid socio-economic growth.

Products

RAKIA offers a variety of products, including:

• Land (Free Zone and non-Free Zone)
• Warehouses/Light Industrial Units
• Office Space
• Labor Accommodations
• Commercial Centers
• Executive Residences (Studio Flats)

By focusing on these diverse areas, RAKIA aims to provide comprehensive support for investors and contribute to the sustainable growth of Ras Al Khaimah. read more