Ann Arbor, Michigan, USA, October, 2026: Ras Al Khaimah Chamber of Commerce and Industry has signed a Letter of Intent (LoI) with Ann Arbor SPARK, a leading regional economic development organization in Michigan, United States, marking an important step towards strengthening economic cooperation and expanding opportunities for trade, investment, innovation and entrepreneurship between Ras Al Khaimah and the Greater Ann Arbor region.
The Letter of Intent was signed by His Excellency Dr. Rashid Khalfan Al Nuaimi, Director-General of Ras Al Khaimah Chamber, and Phil Santer, Chief Operating Officer, Ann Arbor SPARK, in the presence of Dr. Carel Richter, Advisor, International Relations, Office of the Ruler of Ras Al Khaimah.
The cooperation aims to facilitate connections between companies and entrepreneurs in both regions, encourage the exchange of knowledge and market information, and explore opportunities for joint initiatives in business development and innovation. It will also support business delegation visits and direct engagement between companies, helping them identify potential partners and expand into new markets.
H.E. Dr. Al Nuaimi said: “Cooperation with Ann Arbor SPARK will open new avenues for Ras Al Khaimah’s business community to engage with one of the United States’ established innovation and entrepreneurship ecosystems. Building international partnerships that connect our businesses with new technologies, investment opportunities and expertise is important to support their growth and international expansion. We look forward to translating this partnership into meaningful opportunities for companies in Ras Al Khaimah.”
H.E. Dr. Al Nuaimi emphasized that cooperation with Ann Arbor SPARK would open new avenues for Ras Al Khaimah’s business community to engage with one of the United States’ established innovation and entrepreneurship ecosystems. He highlighted the importance of building international partnerships that connect businesses with new technologies, investment opportunities and expertise, while supporting the growth and international expansion of companies in the Emirate of Ras Al Khaimah.
Paul Krutko, president and CEO of Ann Arbor SPARK, said: “Ann Arbor’s innovation economy has always had a global reach. The technologies developed here, the talent our region attracts and the companies that grow here are connected to markets and opportunities around the world. Our relationship with Ras Al Khaimah strengthens those international connections and creates new opportunities for companies in our region to grow, collaborate and compete globally.”
Signing of the Letter of Intent reflects Ras Al Khaimah Chamber’s commitment to strengthening its international network and translating institutional partnerships into practical initiatives that contribute to economic diversification, business growth and the competitiveness of Ras Al Khaimah.
It also builds upon the Memorandum of Understanding that Ras Al Khaimah signed with Michigan in February 2025, when Governor Gretchen Whitmer visited His Highness Sheikh Saud bin Saqr Al Qasimi, UAE Supreme Council Member and Ruler of Ras Al Khaimah, to strengthen and promote exchange and cooperation across a number of sectors of mutual interest.
About Ras Al Khaimah Chamber of Commerce:
Ras Al Khaimah Chamber of Commerce and Industry is the second-oldest chamber of commerce in the United Arab Emirates. Established in 1967, it has served Ras Al Khaimah’s business community for nearly six decades and today represents more than 27,000 member companies across the Emirate’s commercial, industrial and service sectors. Operating as an independent public-benefit institution, the Chamber is the principal representative of the private sector and an important link between businesses and government.
The Chamber’s mandate is to support the growth and competitiveness of Ras Al Khaimah’s business community, advocate for private-sector interests and contribute to the Emirate’s sustainable economic development. It provides a broad range of membership and business services, facilitates trade and investment, promotes Ras Al Khaimah in regional and international markets, supports entrepreneurs and SMEs, and enables dialogue and cooperation between public- and private-sector stakeholders. Guided by its mission to foster a business-friendly, innovative and globally connected economy, the Chamber works to strengthen Ras Al Khaimah’s position as a competitive destination for business and investment.
About Ann Arbor SPARK:
Ann Arbor SPARK, a non-profit organization, is advancing the region by encouraging and supporting business acceleration, attraction, and retention. The organization identifies and meets the needs of business at every stage, from startups to large organizations. For more information, please visit http://www.AnnArborUSA.org.
About Ras Al Khaimah:
Ras Al Khaimah, the fourth largest Emirate in the UAE, is known for its nature, rich history and progressive vision under HH Sheikh Saud bin Saqr Al Qasimi. Committed to sustainable development, economic prosperity, social development and innovation, RAK is an ideal place to live, work and invest.
Strategically located – with one third of the world’s population within a four-hour flight – RAK is a gateway to the Middle East and beyond. Its economy is diverse, with no sector accounting for more than 23% of GDP. The Emirate offers a business-friendly environment with competitive operating costs, 100% foreign ownership, zero income tax and low corporate tax. It is home to over 73,000 companies, with RAKEZ and Innovation City supporting growth across industrial, manufacturing and digital sectors, backed by a future-focused economy validated by ‘A’ range credit ratings since 2008.
Its 0.4 million population comprises 150+ nationalities, each appreciating RAK’s high quality of life and accessible luxury living. Its bold hospitality projects involve luxury global brands, such as Wynn, Four Seasons, Nobu, Waldorf Astoria and Ritz-Carlton. RAK Central will redefine the commercial and residential landscape, while RAK’s the Emirate’s natural beauty (UAE’s highest mountain, beaches and deserts) and rich heritage further enhance its appeal.
With year-round sunshine, simple business set-up, a competitive cost of living and great lifestyle, Ras Al Khaimah offers limitless opportunities.
