Ras Al Khaimah Economic Zone (RAKEZ) has announced the launch of Traders District to support the thousands of traders thriving in its business ecosystem. Traders District is a dedicated community designed to offer traders a host of benefits, including business set-up solutions, simplified access to global supply chains, networking and collaboration opportunities, and assistance with crucial aspects of business operations.
Ramy Jallad, Group CEO of RAKEZ said, “We are thrilled to introduce Traders District, which we believe will provide the perfect nurturing environment for traders to grow and expand their businesses. With this, we aim to simplify their access to global supply chains and offer unmatched support to traders of all levels. This dedicated community will not only offer them support and resources but also provide ample opportunities for growth and collaboration."
As one of the fastest-growing economic zones in the region, RAKEZ is already home to over 7,200 traders thriving in various sectors including food and beverage (F&B), fast-moving consumer goods (FMCG), healthcare, construction, automobile, aviation, and many more. In 2022, RAKEZ recorded 206% increase in the number of new trading companies that set up in the economic zone. Trading continues to be among the most preferred business activities at RAKEZ. And now, with the launch of Traders District, this bustling segment is set to grow even more.
Traders District members can benefit from RAKEZ's excellent logistical infrastructure, providing easy connectivity to other emirates and the entire GCC region through various logistical hubs. Coupled with customisable and scalable warehouses, traders have the freedom to source raw materials from across the globe and export goods in quick timelines.
Traders can also benefit from RAKEZ's partnership with trustworthy service providers as well as government entities. The RAKEZ and Ras Al Khaimah Public Service Department agreement helps streamline the inflow and outflow of goods all over the UAE and GCC region. Additionally, RAKEZ clients can set up their business bank accounts with any of the banking partners, including EDB, WIO, RAK, Mashreq, FAB, CBD, Emirates Islamic, and ADCB. They can also gain access to flexible state-backed trade finance support, insurance, market insights, and more through RAKEZ's exclusive partnership with Etihad Credit Insurance.
Setting up a trading business at RAKEZ is simple and cost-effective. RAKEZ offers assistance with the entire set-up process at its one-stop shop for all government services. It is not just company formation and logistics, the economic zone also extends other essential services to support them with financial functions such as bookkeeping and accounting, VAT and corporate tax registration and filing, and administrative services like translation, attestation, PRO assistance among many others.
Through the weekly and monthly networking events hosted by RAKEZ, traders can unleash their growth potential by connecting with relevant business partners such as suppliers, distributors, and logistics supporters; and accessing valuable expertise on various business aspects such as labour laws, corporate tax, boosting client experience, leveraging digital platforms and more.
On the whole, Traders District is set to be a game-changer for traders operating in RAKEZ's business ecosystem. It's an exciting community that provides all the right care and support these businesses need to sustain, thrive, and expand.