RAS AL KHAIMAH, 16th October, 2023 (WAM) -- Ras Al Khaimah Economic Zone (RAKEZ) is showcasing its extensive support for technology companies looking to set up or expand their operations in the region, as part of its participation in GITEX Global 2023, currently taking place at the Dubai World Trade Centre, until 20th October.

Bringing together innovators, industry leaders, and tech enthusiasts from around the world, the event will serve as a platform for RAKEZ to connect with global tech enterprises and provide valuable insights into the advantages of establishing a presence in Ras Al Khaimah.

The economic zone's presence at GITEX Global 2023 aims to highlight the thriving opportunities available for investors in the UAE's flourishing technology industry.

According to the recent Global Data report, the UAE's ICT market was valued at US$36.14 billion in 2022 and will grow at a compounded annual growth rate (CAGR) of 12.46 percent to reach a value of US$65 billion by 2027. The cumulative revenue generation opportunities for ICT providers in the country are estimated at US$291.73 billion between 2022 and 2027.

RAKEZ's participation underscores its commitment to fostering innovation, entrepreneurship, and economic diversification in Ras Al Khaimah. The economic zone offers a robust ecosystem tailored to the unique needs of IT companies, including streamlined business setup processes, state-of-the-art infrastructure, value-added business support services, and a business-friendly regulatory environment.

Group CEO of RAKEZ, Ramy Jallad, said, "GITEX Global 2023 presents a fantastic opportunity for RAKEZ to engage with tech industry leaders and innovators from around the world. The UAE's tech sector is experiencing rapid growth, and we want to be at the forefront of this expansion by supporting companies and investors in their journey to explore global markets. As the technology landscape continues to evolve, RAKEZ remains dedicated to facilitating the growth of tech companies and contributing to the UAE's position as a global tech innovation hub."

RAKEZ has a track record of empowering businesses across various sectors, including technology, to thrive and expand in the UAE and beyond. The economic zone's comprehensive support services encompass everything from facilitating permits and licences to providing access to local and global markets.

Visit RAKEZ's Stand at Dubai Word Trade Centre during GITEX Global 2023 to discover the boundless opportunities for investment and growth in the UAE's tech sector. RAKEZ experts will be available to provide guidance and insights to tech entrepreneurs and investors throughout the event and unveil the exclusive business set-up packages available during GITEX Global 2023.