Ras Al Khaimah Economic Zone (RAKEZ) signed two agreements for business partnerships at the just concluded China International Fair for Investment & Trade (CIFIT).
RAKEZ also signed a $360 million lease pact with the Shandong Timber and Wood Products Association for the Zhong A Shandong Industrial Park, which envisages the creation of over 3,500 jobs.
The agreements included a Memorandum of Understanding (MoU) with Shenzhen Longhua District, which aims to enhance trade and investment in sectors like the digital economy and healthcare.
The second MoU, with construction firm THi, focuses on joint ventures in industrial and educational projects.
Sheikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah, who led the RAKEZ delegation, addressed the trade and investment event and also oversaw the signing of several agreements.
The mission featured B2B activities in major Chinese cities and showcased Ras Al Khaimah’s investment opportunities at CIFIT under the ‘Invest RAK’ pavilion.
The pavilion included the Ras Al Khaimah Chamber of Commerce and Industry, Marjan, and other key entities.
Ramy Jallad, Group CEO of RAKEZ, said the mission to China helped the emirate to further foster its international relations and economic growth.
The Belt and Road Initiative (BRI) alignment further positions Ras Al Khaimah as a key connector in global markets, he said.
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