H.H. Sheikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah, on Monday attended an Economic and Trade Cooperation Seminar bringing together business leaders from Ras Al Khaimah and Dongguan.
He emphasised to attendees that “Ras Al Khaimah is a forward-looking emirate that understands the value of strong international partnerships in forging a bright future for our people.”
In his opening remarks to commence the seminar, he stated, “In Ras Al Khaimah, we appreciate the profound value of building human connections with international partners, as this will help to transform our aspirations into reality. Our vision is of a future that embraces technological advancement, empowers our people and engages nations of the world in an effort to promote the value of international cooperation and holistic sustainable development.”
The Director of the Municipal Bureau of Commerce in Dongguan, Zhang Jianliang, also addressed the delegates in attendance before a series of presentations were given from both sides.
Representatives from Dongguan presented insights on the scientific and industrial development taking place in the city before Miaomiao Liu, China Business Development Director of Ras Al Khaimah Economic Zone (RAKEZ), delivered a presentation highlighting the unique investment opportunities in Ras Al Khaimah.
Seminar participants were introduced to Ras Al Khaimah’s strong, resilient, and diversified economy, exemplified by its consistent ‘A range’ credit ratings from international agencies Fitch and Standard & Poor’s, and its multiple growing sectors, such as tourism, hospitality, real estate, manufacturing, logistics, and digital services, among others.
Liu also explained how investors can benefit from low operating costs, a low corporate tax rate and a suite of low-cost and customised services offered by RAKEZ, Ras Al Khaimah’s business and industrial hub.
Later, Wenwen Xiao, Associate Vice President of Financial Institutions and Wholesale Banking at RAKBANK, highlighted the advantages of banking in Ras Al Khaimah, including how RAKBANK has become the first UAE bank to complete a new and direct money transfer channel with China – from digital Dirham to digital Yuan instantaneously.
Dongguan is a city of about 10.5 million people and is known as a one of China’s major manufacturing hubs.
WAM
