AN OCEAN FOR THE TAKING
TBY talks to Sheikh Ahmed bin Saqr Al Qasimi, Chairman of the Ras Al Khaimah Economic Zone (RAKEZ), on offering investors a global platform, creating a one-stop shop, and the strategic comparative advantages of access to the Indian Ocean.
BIOGRAPHY
Sheikh Ahmed bin Saqr Al Qasimi is the Chairman of RAKEZ. He oversees the operations of the three entities and manages the development of their investment activities, ensuring that they have a positive impact on diversifying the Emirate’s economy. Under his guidance, the free zones have embarked on a new success strategy. They have adopted a growth plan that focuses on further diversification of their products and services portfolio, ensuring that steady growth rates are maintained. He is also the Chairman of the Customs Department, the Saqr bin Mohammed Al Qasimi Foundation for Charity, and Falcon Technologies International (FTI). He holds a bachelor’s in international public relations from Boston.What were the reasons for merging RAKIA and RAK FTZ?
The UAE is growing at an unprecedented rate. Investors are flocking to this side of the world to set up or expand their businesses and with this, the competition between investment hubs in the country is ever increasing. The reason behind the RAK Free Trade Zone (RAK FTZ) and the RAK Investment Authority's (RAKIA) merger was to revolutionize our investment landscape and support the Emirate's vision of attracting more investments. The move has brought a major impact and created a hub that offers a broader range of business solutions. RAKIA was successful in supporting industrial companies. On the other hand, RAK FTZ was strong in the SME segment. Hence, with the two under the umbrella of Ras Al Khaimah Economic Zone (RAKEZ), we now have a powerhouse economic zone able to cater to businesses of all sizes. We remain competitive in the market by offering global investors a platform where they can access wide-ranging premium facility options and first-class services that suit their needs. Right now, we are continuously working hard to provide our tenants a more seamless, nurturing, and transparent ecosystem by offering enhanced levels of services. In line with this, we recently launched a new one-stop shop called RAKEZ Service Centre - Al Hamra, which houses our services from A to Z. Government entities are also on-board with us in the same location for easier processing of government-related requirements.
What were the challenges in joining forces into a one-stop shop?
It is more a question of new investments. As we build a new and more comprehensive one-stop shop, we began to understand that there are areas we can improve by adding new technology and manpower. Hence, we invested a great deal in IT solutions so that our customer service team is able to provide the best support to our clients. We have implemented SAP and salesforce, as well as CRM which helps us communicate better with our customers, enhances our team's productivity, and provides solid analytical data and reporting.
How will the Emirate further boost economic diversification?
For years, all of our efforts have been toward further boosting the UAE's economic diversification. RAKEZ was established for this very purpose. With the best of the best of RAK FTZ and RAKIA merged into RAKEZ, Ras Al Khaimah's position as an ideal investment destination is even more solid. Right now, we currently have over 13,000 companies from over 100 countries operating in more than 50 sectors, and this number will double a few years down the road. More investors means more sectors will boom resulting to strong economic diversification. We cater to SMEs, entrepreneurs, and industrialists. Our efforts have brought in thousands of SMEs in the Emirate, the backbone of our economy. We nurture them by offering cost-effective facilities such as flexi facilities and offices, as well as easy payment plans to help setting up and running a business more manageable. So, we are aggressive in conducting roadshows in our core markets to approach large companies, and the number-one question of these companies is about the cost of living for their employees, which includes schooling, housing, transportation, and so on. We have proven to them that Ras Al Khaimah is cost effective.
How can industries be encouraged to set up in Ras Al Khaimah when the UAE market is not that large?
When we go on roadshows and meet with potential investors, we tell them not to do feasibility studies on Ras Al Khaimah or the UAE alone; they have to think of Africa, India, Asia, and Europe as well. For example, Ashok Leyland produces 3,000 buses a year. This is not only for the UAE market; it also exports to the GCC. Another example is Italfood, which exports 90% of its cheese to the GCC. In addition, we have Dabur International, which is a large exporter.
AN OCEAN FOR THE TAKING
TABLE OF CONTENTS
Interview
ndrea Di Gregorio, , Director of Energy Efficiency and Renewables , RAK Municipality Department
TBY talks to Andrea Di Gregorio, Director of Energy Efficiency and Renewables of the RAK Municipality Department, on the Emirate's overall strategy, specific programs, and early supporters of energy efficiency and renewables.
read articleInterview
Abdulrhman Al Shayeb Al Naqbi, Director General, Ras Al Khaimah Department of Economic Development (RAK DED)
TBY talks to Abdulrhman Al Shayeb Al Naqbi, Director General of the Ras Al Khaimah Department of Economic Development (RAK DED), on improving the ease of doing business, key diversification pillars, and the impact of new VAT.
read articleInterview
Sheikh Ahmed bin Saqr Al Qasimi, Chairman, Ras Al Khaimah Economic Zone (RAKEZ)
TBY talks to Sheikh Ahmed bin Saqr Al Qasimi, Chairman of the Ras Al Khaimah Economic Zone (RAKEZ), on offering investors a global platform, creating a one-stop shop, and the strategic comparative advantages of access to the Indian Ocean.
read articleInterview
Manu Mehra, CFO, RAK Investment & Development Office (RAK IDO)
TBY talks to Manu Mehra, CFO of the RAK Investment & Development Office (RAK IDO), on the role of free zones in diversification, the benefits of smart state intervention, and the keys most needed for a strong manufacturing sector.
read articleInterview
Yousef Esmaeel, Chairman, Supreme Committee of Saud Bin Saqr Establishment for Youth Enterprises Development (RAK SME)
TBY talks to Yousef Esmaeel, Chairman of the Supreme Committee of Saud Bin Saqr Establishment for Youth Enterprises Development (RAK SME), on incentivizing young people, working with local government to encourage entrepreneurialism, and the role of SMEs in the UAE marketplace.
read articleInterview
Abdullah Al Abdooli, Managing Director, Al Marjan Island
TBY talks to Abdullah Al Abdooli, Managing Director of Al Marjan Island, on the continuous growth of the real estate market in RAK, its robust investment landscape, and the Emirate's ambitious plans to develop its tourism sector.
read articleInterview
Hassan Hamdan Al Alkim, President , American University of Ras Al Khaimah (AURAK)
TBY talks to Hassan Hamdan Al Alkim, President of the American University of Ras Al Khaimah (AURAK), on the consequences of growing global demand for education and AURAK's efforts to attract students from beyond the Emirate.
read articleInterview
Gurumadhva Rao, Vice Chancellor, RAK Medical & Health Sciences University (RAKMHSU)
TBY talks to S. Gurumadhva Rao, Vice Chancellor of the RAK Medical & Health Sciences University (RAKMHSU), on the further development of higher education, its key differentiators, and the need for qualified doctors.
read articleInterview
Taner Topcu, Director, Ras Al Khaimah Economic Zone’s (RAKEZ) Academic Zone
Taner Topcu holds a bachelor's degree in Public Administration from Anadolu University in Turkey. He is an industry expert with more than 20 years of successful experience in education, hospitality, business development, and customer relations. Prior to joining RAKEZ in 2015, Taner worked at TECOM Investment's Education Cluster in Dubai Knowledge Village and Dubai International Academic City, where he worked in operations, business development, and account management. He also worked at Aabar Investments in Abu Dhabi as a Business Development Manager and at Dubai's Knowledge and Human Development Authority as a Director of Engagement Operations.
read article
