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In recent times, Ras Al Khaimah Economic Zone (RAKEZ) witnessed an exciting development as it welcomed a delegation of distinguished business owners from Russia’s Ural Region. This official visit to Ras Al Khaimah aimed to explore the diverse investment and business opportunities the emirate has to offer. The sectors represented by the Russian delegation spanned a wide spectrum, including real estate, trade, media, events, retail, investment funds, food product wholesale, business consultancy, engineering services, machinery, construction, facilities management, IT development, telecommunications, metalworks, and many more.
RAKEZ’s Comprehensive Presentation: Unveiling Opportunities
One of the highlights of the Russian delegation’s visit was a comprehensive presentation hosted by RAKEZ. During this presentation, the delegation gained invaluable insights into the vast business opportunities available in the emirate. The presentation highlighted Ras Al Khaimah’s strategic advantages, including its business-friendly policies, world-class infrastructure, nurturing business environment, and the business set-up solutions that RAKEZ offers to Russian investors.
RAKEZ: A Top Choice for Russians
“Ras Al Khaimah has consistently ranked among the top choices for Russians, and recent years have seen a significant surge in their interest,” said Ramy Jallad, Group CEO of RAKEZ. The economic zone is now home to over 900 Russian companies, ranging from innovative startups and agile SMEs to large-scale manufacturers. This growing presence reflects Russian businesses’ trust and confidence in our dynamic economic zone. RAKEZ is committed to fostering international partnerships and facilitating cross-border collaborations as it further strengthens its ties with Russian entrepreneurs and businesses.
Engaging with Prominent Organizations
During their visit, the Russian delegation engaged with prominent organizations in Ras Al Khaimah, such as RAK Ports, RAK Properties, and Al Marjan Island. Additionally, they had the opportunity to meet with one of the existing Russian business owners in RAKEZ, gaining firsthand knowledge of the emirate’s investment climate and growth potential across various sectors.
Strengthening Economic Ties
The Russian delegation’s visit strengthens further economic ties between Ras Al Khaimah and Russian businesses. The Emirates remains an attractive destination for international investors, with a strong focus on economic diversification and sustainable growth.
Noteworthy Trade Growth
It is worth noting that the trade turnover between Russia and the UAE has witnessed substantial growth between 2017-2022. 2022 the trade increased by nearly 68%, reaching USD 9 billion. Russian exports to the UAE surged to USD 8.5 billion, marking a 71% increase. Concurrently, exports from the UAE rose by 6% to USD 0.5 billion. The UAE holds the position of Russia’s 12th most important trade partner and ranks first among Middle East countries. It is also Russia’s largest trading partner among the GCC countries.
The visit of the Russian delegation to the Ras Al Khaimah Economic Zone (RAKEZ) underscores the emirate’s attractiveness to international investors, particularly from Russia. With its diverse sectors, business-friendly policies, and strategic advantages, RAKEZ is a preferred choice for businesses looking to expand their horizons. The strengthened economic ties between Ras Al Khaimah and Russia bode well for the future, fostering international partnerships and driving sustainable growth in the region.