RAKEZ allocates Dh50m support fund towards business continuity

Ras Al Khaimah Economic Zone (RAKEZ) has launched customised bundles of incentives with a total value of Dh50 million to ease the impact of the current global situation to its family of over 15,000 companies and reinforce their business continuity.
Under the allocated fund, the economic zone has introduced Client Support Boosters for the SME and the industrial sectors, offering various incentives and the agility to customise solutions based on its clients' needs. SME Client Support Boosters for RAKEZ's co-working and office clients include: 15 per cent discount on total renewal package; 25 per cent discount on new dependent visas; 100 per cent waiver of late renewal penalties; 100 per cent waiver of cheque postponement fees; 100 per cent waiver of package downgrade fees; 100 per cent waiver of activity change fees; 100 per cent waiver of security deposit for new visa requests; and flexible installment options.
"Our clients are at the heart of everything we do, and now more than ever, we are here for them," said Sheikh Ahmed bin Saqr Al Qasimi, Chairman of RAKEZ. "We understand that these uncertain times present unique challenges to different businesses, so we decided not to rush and launch unevaluated incentives. Instead, we took the time to study the situation from our clients' perspective - what challenges each sector is facing and how we can lessen their burdens. With the allocation of this Dh50 million support fund, we make it possible to customise bundles of benefits based on each clients' need to boost their business stability. Our aim is to make sure that when this situation ends, we come out stronger together and ready to bounce back."
Industrial Client Support Boosters for RAKEZ's industrial clients include: 50 per cent discount on licence fee; 100 per cent waiver of cheque postponement fees; 100 per cent waiver of late renewal penalties; 100 per cent waiver of all RAKEZ gate access fees; 100 per cent waiver of security deposit for new visa requests; 25 per cent discount on new labour accommodation requests; 25 per cent discount on new dependent visas; and flexible installment options.
Commenting on the customisation benefits that RAKEZ offers to its clients, Sheikh Ahmed bin Saqr Al Qasimi said: "We have always been believers of customisation because we understand that businesses have different needs. On a general level, we have developed a list of incentives to help our clients, but we are here to listen to them and offer exactly the kind of backing they need based on their circumstances."
- business@khaleejtimes.com