His Highness Sheikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah, stressed that strengthening strategic industrial relations and partnerships is a fundamental pillar in the emirate’s plans to diversify its economy, consolidate its growing position as an ideal destination for doing business, and contribute to achieving economic prosperity and sustainable development for the UAE.
His Highness said, “We in Ras Al Khaimah are committed to achieving growth and continuing the path of development in various vital sectors, in accordance with national visions and strategies aimed at enhancing the UAE’s position on the map of the most advanced countries, and consolidating its global competitiveness as a centre for industrial innovation.”
His Highness Sheikh Saud bin Saqr Al Qasimi praised the strength of the economic relations and the comprehensive strategic partnership between the UAE and the People’s Republic of China in various fields, which is increasingly developing, growing and solidifying year after year. His Highness stressed the long history of economic and trade relations between Ras Al Khaimah and the People’s Republic of China, as the emirate today hosts more than 200 Chinese companies registered in the Ras Al Khaimah Economic Zones Authority (RAKEZ), and work is currently underway to develop 3 Chinese projects on Al Marjan Island with investments estimated at AED 4.5 billion.
His Highness added, “We are proceeding according to a clear development vision and well-studied strategic plans that aim to support investors and create the best investment environment in the region and the world. We are working to continue expanding the development of our infrastructure to enhance the attractiveness of our emirate and our country and to emphasize our global competitiveness.”
This came during His Highness the Ruler of Ras Al Khaimah’s reception, at his palace in Saqr bin Mohammed City, today, of Yang Yuelu, Chairman of Shandong Wood and Wood Products Corporation, a global leader in the manufacture and export of wood in China’s Shandong Province, which serves as a service platform for more than 1,700 wood manufacturers and exporters in the province, and produces about 10% of the world’s furniture wood.
His Highness witnessed the signing of an agreement between Ras Al Khaimah Economic Zones Authority (RAKEZ) and Shandong Timber and Wood Products Corporation to establish the “Zhong A Shandong Industrial Park” in the emirate, with an investment of 360 million US dollars.
The strategic agreement was signed by Rami Jallad, CEO of Ras Al Khaimah Economic Zones (RAKEZ), and Yang Yuelu, Chairman of the Chinese Foundation and Chairman of ZhongA Shandong Industrial Park in Ras Al Khaimah.
The industrial complex, which will be built in the Al Ghail Industrial Area in Ras Al Khaimah, is expected to attract more than 60 Chinese companies working in the food industry, wood and other sectors, and is expected to provide more than 3,500 job opportunities in the next five years.
The meeting was attended by a number of officials from Ras Al Khaimah and the Chinese side.
Saud bin Saqr: Ras Al Khaimah is committed to achieving growth in various vital sectors#WAM https://t.co/qWZ4lkT2qh pic.twitter.com/9XLuo02dcU
— Emirates News Agency (@wamnews) August 14, 2024
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