RAK Chamber Explores Investment Opportunities with France, Germany and Spain

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Ras Al Khaimah, UAE: Ras Al Khaimah Chamber has explored joint economic cooperation and investment opportunities with a tripartite delegation from France, Germany and Spain that included business representation from a variety of economic sectors.

Organized by the Chamber at its headquarters and attended by representatives from the French Business Council, the Spanish Business Council and the German Emirati Joint Council for Industry & Commerce, with the participation of an elite group of representatives from Ras Al Khaimah local business community, the meeting discussed investment opportunities available to private sector companies.

The joint delegation, with more than sixty governmental and economic representatives was received by Mr. Mohamed Hassan Al Sabab, Acting Director General of Ras Al Khaimah Chamber, and Dr. Ahmed Rashid Al Shemaili, Assistant Director-General of Commercial Service and Business Development Sector at the Chamber.

Al Sabab, emphasized the depth of economic relations between the UAE in general, and Ras Al Khaimah in particular, and France, Germany and Spain, reiterating the commitment of Ras Al Khaimah Chamber to provide all possible facilities that help investors promote their business.

He also called for taking advantage of Ras Al Khaimah economic conditions and the investment opportunities available to the business community in Ras Al Khaimah. He made specific reference to its flexible economic policy, the empasis on the industrial sector, and the availability of advanced logistics services, banking systems, and supportive legislation and laws. He also noted Ras Al Khaimah’s growth in all economic, social and cultural areas, which underscores its competitiveness as a strategic location in the region.

Dr. Al Shemaili pointed out the Chamber’s focus on consolidating economic relations with all countries, and its continuous pursuit of presenting new investment prospects to business and investors in Ras Al Khaimah, with a view to promoting domestic economic growth. In addition, he said that the Chamber will continue to play its role in contributing to the promotion and development of economic relations in Ras Al Khaimah, and to provide opportunities for businessmen in order to achieve leadership in supporting the business environment, in contribution to the UAE economic activities.

The heads of the joint delegation extended their thanks and expressed their appreciation of RAK Chamber’s role in organizing such meetings, which serve the best interests of everyone. Furthermore, they emphasized the need to grow the opportunity of cooperation with Ras Al Khaimah given its economic landscape and attractive business environment.

They called upon investors and businesspersons to invest in Ras Al Khaimah, and benefit from its investment-friendly laws and legislations, advanced facilities and official support. They also hailed the meeting for its clear vision of the opportunities and areas of cooperation and investment available to the private sector, as well as being a chance to establish business relations between companies and their UAE counterparts, noting that the business communities in their countries are looking forward to taking advantage of the Emirate’s attractive business environment.

Ras Al Khaimah Chamber, Ras Al Khaimah Maritime City and Al Marjan Island Company presented Ras Al Khaimah’s economic and investment background and the projects available for investment, as well as touching on Ras Al Khaimah’s tourist attractions.

There was specific focus and discussion during the meeting on the manufacturing, tourism, health care and shipping sectors. The importance of creativity and innovation, business challenges, the business ecosystem, adaptive approaches to business environments and the mechanisms and means of supporting SMEs were also all touched on. The meeting also reiterated the need to contribute to the development of entrepreneurs. A number of recommendations were made including the exchange of experience and information to support partnerships, in addition to the holding of a conference that brings together SMEs from participant countries with a view to cooperation agreements and product promotion.