Saturday, August 24, 2024 In a significant step toward enhancing U.S. investment in the United Arab Emirates, His Highness Sheikh Saud bin Saqr Al Qasimi, UAE Supreme Council Member and Ruler of Ras Al Khaimah, welcomed a high-level delegation from the American Business Council in Dubai (AmCham Dubai) and representatives from Ras Al Khaimah Economic Zone (RAKEZ).
This gathering marked the signing of a pivotal Memorandum of Understanding (MoU) between AmCham Dubai and RAKEZ, laying the groundwork for increased collaboration aimed at positioning Ras Al Khaimah as a premier investment destination for American businesses. The MoU represents a broad framework for cooperation between AmCham Dubai and RAKEZ, focusing on promoting Ras Al Khaimah’s strategic advantages to U.S.
businesses. The agreement highlights the emirate’s commitment to fostering an environment conducive to business growth, leveraging its world-class infrastructure, and strategic location within the UAE to attract American enterprises. Led by U.
S. Ambassador Martina Strong, the delegation included prominent members of the American business community in the UAE, along with key officials from AmCham Dubai and RAKEZ. The MoU was signed by AmCham Dubai Chairman Sammy Bousaba and RAKEZ Group CEO Ramy Jallad, marking the beginning of a strategic partnership aimed at deepening economic ties between the U.
S. and Ras Al Khaimah. Commenting on the MoU, Sammy Bousaba emphasized the significance of this partnership in enhancing the presence of American businesses in Ras Al Khaimah.
“AmCham Dubai is dedicated to strengthening the robust ties between American businesses and Ras Al Khaimah. This MoU represents our commitment to expanding opportunities for American enterprises to thrive in the emirate. We are focused on deepening American engagement in Ras Al Khaimah, in alignment with the emirate’s strategic goals and its vision for continuous growth,” he stated.
This sentiment was echoed by Ramy Jallad, who highlighted the importance of the MoU in attracting more U.S. investment to Ras Al Khaimah.
“This strategic MoU with AmCham Dubai will further cement our ties with the growing American business community. With nearly 1,000 American investors already established at RAKEZ, we remain dedicated to fostering an enabling environment for U.S.
companies and highlighting Ras Al Khaimah’s role as a dynamic hub for international investment. We look forward to facilitating more American enterprises in their journey to expand in the Middle East and beyond, leveraging RAKEZ’s world-class facilities and services.” As part of the collaboration, AmCham Dubai and RAKEZ will jointly host a series of business events in Ras Al Khaimah and Dubai, providing a platform for American companies to explore investment opportunities in the emirate.
These events will focus on showcasing Ras Al Khaimah’s unique advantages, including its strategic location, investor-friendly policies, and thriving business environment. In addition to hosting events, the partnership will also provide tailored business support services to American firms, helping them navigate the local market and establish a strong presence in Ras Al Khaimah. This includes facilitating visits from U.
S. business delegations to the emirate, allowing them to experience firsthand the benefits of operating in one of the UAE’s most dynamic economic zones. Ras Al Khaimah is already home to several major U.
S. companies, including Guardian Glass and Caresoft, both headquartered in Illinois. The emirate has also attracted significant investment from Wynn Resort, which recently announced a nearly USD 4 billion project in Ras Al Khaimah, further cementing the region’s appeal as a prime location for American businesses.
The collaboration between AmCham Dubai and RAKEZ is expected to build on this momentum, drawing more U.S. investors to the emirate and contributing to its continued economic growth.
The MoU is seen as a testament to the strong commitment of both organizations to promote sustainable business development and strengthen economic ties between the U.S. and the UAE.
Ras Al Khaimah’s strategic location, coupled with its investor-friendly environment, makes it an ideal hub for international investment. The emirate offers a range of incentives to businesses, including tax benefits, streamlined business processes, and access to a highly skilled workforce. These factors, combined with RAKEZ’s world-class facilities, make Ras Al Khaimah an attractive destination for American companies looking to expand their operations in the Middle East.
The MoU with AmCham Dubai will further enhance Ras Al Khaimah’s profile as a leading investment destination, showcasing the emirate’s potential to U.S. businesses and facilitating their entry into the regional market.
Through this partnership, Ras Al Khaimah aims to attract a diverse range of industries, from manufacturing and logistics to technology and services, driving economic diversification and creating new opportunities for growth. The signing of the MoU between AmCham Dubai and RAKEZ marks a significant milestone in the relationship between the U.S.
and Ras Al Khaimah. By fostering closer economic ties and promoting investment opportunities, this partnership is set to play a key role in shaping the future of business in the emirate. As Ras Al Khaimah continues to develop its infrastructure and expand its economic offerings, the collaboration with AmCham Dubai will be instrumental in attracting more American companies to the region.
This, in turn, will contribute to the emirate’s long-term vision of becoming a leading global business hub, offering unparalleled opportunities for growth and innovation. Through joint initiatives, tailored support services, and a shared commitment to economic development, Ras Al Khaimah and AmCham Dubai are paving the way for a brighter future, where U.S.
businesses can thrive and contribute to the prosperity of the UAE and the wider Middle East region..
