Rakia opens doors to media companies

Ras Al Khaimah Investment Authority (Rakia) has opened up for media companies and professionals to establish their media-related companies in Ras Al Khaimah, the authority announced on Thursday.

In support of this step, Rakia signed a Memorandum of Understanding (MoU) with the National Media Council (NMC) to support the issuance of media licences.

This new initiative marks Rakia as the only free zone in Ras Al Khaimah (RAK) servicing media-related companies.

Ramy Jallad, CEO of Rakia, noted that the expansion of industry activities offered by Rakia will certainly boost business opportunities for foreign and local companies in the media industry.

“This will play an important role in diversifying RAK’s economy by developing the media sector and opening new doors,” he said.

In a statement, Rakia said that activities that can be carried out with media licences include TV and radio broadcasting, publishing, advertising, communications, media monitoring and services, production and film support, music, entertainment, and events management amongst others.

In addition to media licences, Rakia offers industrial, commercial, trading, and consultancy/services licences under free zone and non-free zone jurisdictions.

“This marks another step for Rakia towards creating new business opportunities, coming up with unique competitive solutions and encouraging entrepreneurs, SMEs, and other companies from all over the world to set up and expand their businesses in the emirate of Ras Al Khaimah. We are always committed to contribute to the economic diversification and support the development of new industries of all sectors,” added Jallad.

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