Ras Al Khaimah, a preferred 'work, live and play' hub for global investors

Ras Al Khaimah, one of the seven emirates of the United Arab Emirates (UAE), is strategically positioned at the heart of the Middle East. Governed by His Highness Sheikh Saud bin Saqr Al Qasimi, a member of the UAE's Supreme Council, the emirate has carved out a niche for itself with a dynamic blend of cultural diversity and economic vitality. Its location within a four-hour flight of one-third of the world's population, and just a 45-minute drive from Dubai, makes it a central and accessible hub for international commerce and tourism.

Ras Al Khaimah's robust economic status is underscored by its consistent 'A' range credit ratings from renowned international rating agencies. This economic stability attracts over 38,000 companies from more than 100 countries, contributing to a GDP of approximately $11.5 billion. The emirate is bolstered by open economic policies and strategic initiatives aimed at attracting global investments.

Ras Al Khaimah presents an exceptional investment environment with a resilient and diversified economy. Key sectors include tourism, hospitality, real estate, manufacturing, and digital services, highlighted by projects like Las Vegas's fully-integrated Wynn Resort.

Ras Al Khaimah's economic strategies are closely aligned with China's Belt and Road Initiative (BRI), enhancing global connectivity and bilateral relations. This strategic alignment positions Ras Al Khaimah as a key connector within the BRI framework, offering Chinese companies stability, strategic positioning, and growth opportunities in the region.

The emirate is home to Ras Al Khaimah Economic Zone (RAKEZ), which is one of the largest and fastest-growing economic zones in the MENA region. It offers tailored, low-cost services for companies, including both free zone and mainland operations, making it an attractive location due to low operating costs, one of the world's lowest corporate tax rates, and significant business incentives.

RAKEZ's role in China-UAE relations

RAKEZ has played a key role in reinforcing the economic bridge between China and the UAE, which is China's largest trade partner in the Arab region. This partnership is characterised by the re-export of around 60 percent of Chinese trade through the UAE to over 400 cities across the MENA region. The UAE's strategic location and a growing portfolio of international trade agreements have elevated its status in the FDI league tables, confirming it as a prime destination for global investors.

Acknowledging the significance of Chinese businesses in diversifying the UAE's economy and Ras Al Khaimah’s industrial base, RAKEZ actively hosts Chinese entrepreneurs, government officials, and media representatives. This involves strategic meetings and roadshows across major Chinese cities to foster deeper economic ties. Over the years, RAKEZ has supported over 250 Chinese companies from sectors like recycling, LED lighting, engineering, and packaging, providing them with a strategically located hub for expansion into the MENA markets.

RAKEZ is dedicated to supporting Chinese businesses with tailored solutions that meet their specific needs. Through its one-stop shops, the economic zone offers a quick and efficient business set-up process, which includes licensing and facility leasing options such as state-of-the-art warehouses, land plots, and offices. Additionally, RAKEZ provides visas for investors, their staff, and family members. This customised approach, combined with seamless logistical connections, ensures that Chinese enterprises can scale efficiently and effectively.

The ability to foster strong, long-term partnerships has been crucial for RAKEZ. Regular engagements with leading Chinese companies and government entities in cities like Shenzhen, Guangzhou, and Dongguan have deepened ties and boosted investment interest in Ras Al Khaimah as a business hub.

Recent activities and strategic collaborations

China International Fair for Investment & Trade (CIFIT)

RAKEZ recently participated in CIFIT, showcasing under the 'Invest RAK' pavilion as part of an extensive business mission across China. The mission included a series of B2B activities aimed at reinforcing existing business relationships and forming new ones. Notable achievements include the signing of strategic MoUs with Shenzhen Longhua district—focusing on facilitating trade and investment cooperation and exploring opportunities in sectors such as the digital economy, new energy, healthcare, and advanced manufacturing—and THi—to explore joint ventures on a range of projects, from industrial facilities to educational institutions.

Partnership with Tianjin Pilot Free Trade Zone

RAKEZ entered into a landmark partnership with the Tianjin Pilot Free Trade Zone to enhance economic ties and encourage cross-border opportunities. This partnership was formalised through a Strategic Cooperation Agreement with China (Tianjin) Pilot Free Trade Zone and a Memorandum of Understanding (MoU) with Tianjin Port Free Trade Zone.

Zhong A Shandong Industrial Park

A significant development is the establishment of the $360 million Zhong A Shandong Industrial Park by China's Shandong Timber and Wood Products Association. The industrial park, set to span over 450,000 square meters initially, will expand to more than 1 million square meters and is expected to bring over 60 new companies specialising in wood and F&B sectors to RAKEZ, creating over 3,500 jobs in the next five years.

Commenting on the long-term developments in UAE-China economic relations, RAKEZ Group CEO Ramy Jallad said, "As we celebrate 40 years of flourishing UAE-China relations, RAKEZ remains committed to strengthening this enduring partnership and supporting China's Belt and Road Initiative for deeper economic integration and connectivity. Our strategic initiatives, like the Tianjin Free Trade Zone cooperation and the establishment of the Zhong A Shandong Industrial Park, are milestones that highlight Ras Al Khaimah's role as an important gateway for Chinese enterprises looking to expand their footprint in the Middle East and North Africa. We are proud to facilitate this growth and look forward to forging deeper ties in the decades to come."