RAK Investment Authority (RAKIA) was constituted as per the Emiri Decree No. (2)/2005 issued by H.H Sheikh Saqr Bin Mohammed Al Qasimi, former Supreme Coucil Member and Ruler of Ras Al Khaimah, working under the mandate of reinforcing the investment climate of the emirate and promoting its various economic sectors.
Working under the mandate of bolstering a strong and diverse economy, RAKIA develops and manages the industrial parks, including the free zones and industrial zones in the Al Hamra and Al Ghail areas of Ras Al Khaimah.
As per the Emiri Decree No. (32) of 2012 issued by H.H Sheikh Saud bin Saqr Al Qassimi, Supreme Council Member and Ruler of Ras Al Khaimah, the scope of services offered by RAK Investment Authority shall be confined to the following:
Beyond the ease of business formation, come the benefits of such an endeavour including a lower cost of living that allows for great profit margins, 100% repatriation on profits and capitals, complete ownership in free zones, no tax on import of raw materials and machinery, no hiring restrictions, low rent options for long-term leasing, dedicated power plant for the industrial parks, as well as land, air and sea connectivity from Ras Al Khaimah to major markets in the UAE and surrounding regions.
Major companies operating from RAKIA Industrial Parks include, Peikko (Finland), POSCO (South Korea), Seah Steel (South Korea), Kirby Steel (Kuwait), Mabani Steel (India), Zamil Steel (KSA), Global Glass Solution (Jordan), Guardian Industries (USA), RAK Ghani Glass (Pakistan), Maico Gulf (India), Becker Paints (France), Novas sealing (UK), Kludi RAK (Germany), Kempe Engineering (Australia), Franke (Switzerland), Ashok Leyland (India), Dabur india (India), JBF RAK (India), Falcon int'l (UAE), Duschulox (Germany), Pioneer Cements (India), Spatial Composite Solutions (Ireland) and Arc International (France)
Under the continued direction of H.H. Sheikh Saud bin Saqr Al Qasimi, Supreme Coucil Member and Ruler of Ras Al Khaimah, RAKIA continues to pursue the goal of transforming Ras Al Khaimah into a regional and international hub for business.