RAS AL KHAIMAH, 16th August, 2023 (WAM) — Ras Al Khaimah Economic Zone (RAKEZ) has been recording heightened interest from Chinese companies looking to navigate the business landscape and strategic investment opportunities in the UAE.
Post its successful business tour to major Chinese cities earlier this year, the economic zone hosted numerous Chinese business delegations from diverse sectors including construction, manufacturing, trading, electronics, and engineering.
The visitors toured RAKEZ’s industrial zones, Al Marjan Island and Jebel Jais, in addition to meeting with representatives of various Ras Al Khaimah-based entities. With a comprehensive overview of the industrial infrastructure and the real estate and tourism sectors in the emirate, the Chinese investors explored the potential of these promising locations for business expansion and the support extended by RAKEZ.
RAKEZ Group CEO Ramy Jallad said, “The growing interest from Chinese businesses further solidifies our efforts to strengthen our relationships with global investors by fostering mutually beneficial collaborations. The UAE’s long-standing relationship with China has helped shape a flourishing economic landscape, with the country becoming the UAE’s top non-oil trading partner and the third-largest foreign investor. Similarly, for RAKEZ, China continues to be one of the key focus markets.”
He added, “As the UAE actively strives to boost its bilateral trade with China to US$200 billion by 2030, establishing business relations with more Chinese companies has become even more vital. In this light, we welcome more Chinese investors to explore the dynamic opportunities that Ras Al Khaimah has to offer.”
RAKEZ currently houses more than 400 Chinese companies ranging from small to medium-sized enterprises (SMEs) as well as large industrial companies. The sectors they operate in are broad, reflecting the diverse economic potential of the UAE and the attractiveness of Ras Al Khaimah in particular.
This year, RAKEZ has already seen some key investments from Chinese companies, including Maxtron Show Lighting, manufacturer of computer-controlled, programmable LED light systems and video screens.
RAKEZ remains committed to fostering economic growth, promoting inward investment, and providing an efficient and flexible ecosystem for businesses to thrive. The regular foreign business delegations to the economic zone reflect its continuous efforts to attract foreign investments and build long-lasting business relationships.