The Ras al-Khaimah Economic Zone, RAKEZ, began accepting entries on Sunday for the RAKEZ Business Excellence Awards 2017.

The awards, with a cash prize of AED200,000, recognises companies for their outstanding excellence and for their key role in the economic development of the emirate of Ras al-Khaimah.

"Would you believe that we only had 120 submissions in the first year? Now, we are anticipating over 450 entries for this year, which is a remarkable 270 percent increase," said H.H. Sheikh Ahmed bin Saqr Al Qasimi, Chairman of RAKEZ.

"For me, this means that the awards programme we created to inspire excellence in our clients is serving its purpose. I am glad that more and more RAKEZ companies are driving really outstanding results that deserve to be celebrated," he added.

Ramy Jallad, Group CEO of RAKEZ, RAK Free Trade Zone and RAK Investment Authority, noted that the business excellence programme has enhanced the brand image of several companies over the years.

"Winning an excellence award certainly differentiates a company from its competitors, which is very important in today’s competitive business environment. I always encourage our clients, from entrepreneurs and SMEs to large corporations, to take part in the Business Excellence Awards," Jallad said.

"We are proud of our expert panel of judges from International Performance Excellence, IPE, who will be conducting comprehensive evaluations to identify the best free zone and non-free zone companies in each category, " he added.

There are seven categories Best New Startup, Best New Technology, Best Small Business of the Year, Fastest-Growing Company, Best Industrial Company of the Year, Best Contributor to RAK Development and Best Corporate Social Responsibility.

The closing date for entries is 31st October, 2017, and winners will be announced on 25th January, 2018.