Ras Al Khaimah, 12 September 2024: Ras Al Khaimah Economic Zone (RAKEZ) has successfully completed an extensive business mission in China, characterised by its participation in the prestigious China International Fair for Investment & Trade (CIFIT), where His Highness Sheikh Saud bin Saqr Al Qasimi, UAE Supreme Council Member and Ruler of Ras Al Khaimah delivered a keynote address during the opening ceremony, and the signing of multiple agreements, highlighting Ras Al Khaimah’s appeal as a premier investment destination.
The mission involved a series of B2B activities across major Chinese cities, aimed at strengthening existing business ties and establishing new collaborations. The highlight of the mission was RAKEZ’s involvement in CIFIT, where the economic zone, along with other major entities from the emirate, showcased under the ‘Invest RAK’ pavilion. This collaborative pavilion featured Ras Al Khaimah Chamber of Commerce and Industry, Marjan, Ras Al Khaimah Tourism Development Authority, Ras Al Khaimah Digital Assets Oasis, Ras Al Khaimah Properties, Ras Al Khaimah Ports, and RAKBANK, as well as representatives from the UAE Ministry of Economy.
At CIFIT, the ‘Invest RAK’ pavilion emphasised Ras Al Khaimah’s strategic position as a regional hub for business, extending an invitation to Chinese companies to explore numerous investment opportunities the emirate offers. The entities represented various sectors including real estate, logistics, economic development, business services, tourism, hospitality, technology, and innovation, demonstrating the diverse and business-friendly ecosystem of Ras Al Khaimah.
A key achievement of the mission was the signing of strategic MoUs, witnessed by His Highness Sheikh Saud bin Saqr Al Qasimi, UAE Supreme Council Member and Ruler of Ras Al Khaimah. The first MoU was inked between Shenzhen Longhua District, represented by Lan Tao, Member of the Standing Committee of the CPC Longhua District Committee and Director of the District Committee (Government) Office, and Ramy Jallad, Group CEO of RAKEZ. This MoU focuses on facilitating trade and investment cooperation and exploring opportunities in sectors such as the digital economy, new energy, healthcare, and advanced manufacturing.
The second MoU with construction giant THi was signed by Michael John Lane, Partner at SC Capital Partners, and Ramy Jallad, Group CEO of RAKEZ, to explore joint ventures on a range of projects, from industrial facilities to educational institutions, reflecting a shared commitment to enhancing Ras Al Khaimah’s infrastructure and economic landscape.
Jallad said, “Our participation in CIFIT and the strategic MoUs signed with key Chinese partners reflect our proactive approach to fostering sustainable international relations. These collaborations align with our global outreach and our commitment to enhancing the economic fabric of Ras Al Khaimah through diverse industrial growth and comprehensive business development.”
Ras Al Khaimah’s economic strategies, closely aligned with the Belt and Road Initiative (BRI), focus on enhancing global connectivity and strengthening bilateral ties. This strategic alignment positions Ras Al Khaimah as an important connector within the BRI framework, facilitating access to the burgeoning markets of the Middle East and Africa. The sustained progress of the BRI continues to attract Chinese companies to the UAE and Ras Al Khaimah, seeking stability, strategic positioning, and growth opportunities.
Recognising the critical role of Chinese businesses in diversifying Ras Al Khaimah’s industrial base, RAKEZ has been actively engaging with Chinese entrepreneurs, government officials, and media representatives through strategic meetings and roadshows. These efforts have attracted over 250 Chinese companies across sectors such as recycling, LED lighting, engineering, and packaging, contributing significantly to the region’s growth. Further strengthening these ties, RAKEZ recently signed a lease for USD 360 million with China’s world-leading Shandong Timber and Wood Products Association to establish Zhong A Shandong Industrial Park, a 1 million square metre project expected to attract 60 companies and create over 3,500 jobs in the next five years.
For more information, please contact:
Cleo Eleazar, Public Relations & Events Manager, RAKEZ
Phone: +971 7 2077173; Email: [email protected]
About Ras Al Khaimah Economic Zone (RAKEZ):
RAKEZ is a powerhouse business and industrial hub established by the Government of Ras Al Khaimah in the United Arab Emirates. It currently hosts over 25,000 companies coming from over 100+ countries and operating in more than 50 industries.
RAKEZ offers entrepreneurs, startups, SMEs and manufacturers a wide-range of solutions, including free zone and non-free zone licences, customisable facilities, and first-class services provided in a one-stop shop. Furthermore, RAKEZ has specialised zones that are tailored to specific needs of investors: Al Nakheel and Al Hamra Business Zones for commercial and service companies; Al Ghail, Al Hamra and Al Hulaila Industrial Zones for manufacturers and industrialists; and an Academic Zone for educational providers.
A leading economic zone, RAKEZ aims to continue attracting diversified investment opportunities that will contribute to the economic growth of Ras Al Khaimah.
