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RAK To Launch Dhs 3.67 Billion Education Zone

RAK To Launch Dhs 3.67 Billion Education Zone

The Government of Ras Al Khaimah has announced plans to develop a Dhs 3.67 billion Education Zone in the Emirate.

Although still in the early stages of design, leaders are already in talks with several schools and universities.

Ramy Jallad, the chief executive of RAK Investment Authority and RAK Free Trade Zone told the National, “we’re taking it gradually…. In the past year, we’ve been talking to four major educational institutions in terms of high schools. We’ve been talking to three major universities. But these are all in the making.”

Speaking at the Ras Al Khaimah Finance Investment Forum earlier this week, Mr Jallad highlighted the Emirate’s cost effective nature.

“So our mandate is that when we attract schools or universities to Ras Al Khaimah, the same quality of higher education institutions that are available in other parts of the world, or in neighbouring emirates,” he said, “they come here and they’re able to provide a more cost-effective tuition fee to the population, because we are offering them incentives to allow them to keep their operating costs much lower than anywhere else.”

He went on to say the Government would also offer opportunities for investors to work with authorities in developing the Zone.

“We’re opening up our master planning where these private investors can come into our zones and we work with them,” he said.

“It can become a win-win where we’re all developing and creating that environment for SMEs or industry to thrive. Otherwise, if that load were to be put on the government’s head it would take longer and it would be a real burden on our finances.”

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Speaking at the same event Abdulrahman Al Shayeb, the general director of RAK’s Department of Economic Development said that Ras Al Khaimah would be improving the ‘operating environment in the Emirate.’

Improvements include a Dhs 2.5 million system which will allow investors to streamline their applications, including a reduction in the number of Government departments that investors are required to visit, and applications being submitted online.

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