Will Ras Al Khaimah Become the Next Big Hub for American Investments?
Recently, His Highness Sheikh Saud bin Saqr Al Qasimi, who is the Ruler of Ras Al Khaimah and a member of the UAE Supreme Council, hosted a delegation from the American Business Council in Dubai, also known as AmCham Dubai, along with representatives from the Ras Al Khaimah Economic Zone (RAKEZ). This meeting was quite significant because it marked the signing of a Memorandum of Understanding (MoU) between AmCham Dubai and RAKEZ.
This MoU is essentially a formal agreement that sets the stage for cooperation between the two entities, with a focus on promoting Ras Al Khaimah as a prime destination for American businesses to invest. The signing was attended by key figures, including the US Ambassador to the UAE, Martina Strong, and was officially signed by Sammy Bousaba, the Chairman of AmCham Dubai, and Ramy Jallad, the Group CEO of RAKEZ.
Bousaba emphasised that this partnership is all about deepening the connection between American businesses and Ras Al Khaimah, ensuring that these companies have more opportunities to thrive in the emirate. On the other hand, Jallad highlighted that with nearly 1,000 American investors already operating within RAKEZ, this agreement will strengthen the ties with the US business community even further.
Together, AmCham Dubai and RAKEZ plan to organise joint business events in both Ras Al Khaimah and Dubai, offer specialised support to American companies, and host visits for US business delegations to showcase the emirate’s potential as a global business hub.
Ras Al Khaimah is already home to some major US companies, like Guardian Glass and Caresoft, which are headquartered in Illinois, and the Wynn Resort project, a massive US$4 billion investment. This collaboration underscores the commitment of both AmCham Dubai and RAKEZ to promote sustainable business growth and strengthen economic ties, which will benefit not just Ras Al Khaimah but the broader Middle East region as well.
