RAK, Luxembourg tackle investment opportunities
October 14, 2017 | 06:53 PM
Prince Guillaume, Hereditary Grand Duke of Luxembourg, receives a plaque of appreciation from Mohamed Al Nuaimi, Chairman of the Board of the Ras Al Khaimah Chamber
October 14, 2017 | 06:53 PM
Last Updated: October 14, 2017 | 06:54 PM
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RAS AL KHAIMAH — The Ras Al Khaimah Chamber and a high level delegation from the Duchy of Luxembourg met to discuss joint economic activities and investment opportunities. The delegation from Luxembourg was headed by Prince Guillaume, Hereditary Grand Duke of Luxembourg. The talks included economic issues of mutual interest in addition to bringing together local companies and representatives of companies accompanying the Luxembourg delegation to discuss investment opportunities.
Prince Guillaume emphasized the importance of expanding areas of cooperation between Ras Al Khaimah and Luxembourg in several sectors. He said it is important to utilize the resources and facilities that both sides offer for the benefit of both economies. Prince Guillaume praised the development and progress that Ras Al Khaimah has witnessed in recent years, and pointed to the increasing interest from companies in Luxembourg in investing in Ras Al Khaimah because of its economic vitality and diversity.
He added that both the UAE and Luxembourg have had a lot of success in developing and growing vital economic sectors, reflecting their ability to continue on the path of sustainable economic development. He said that the diversity of the Luxembourg economy helped it to attract many global companies to invest in it and make it a base for their European operations. He said that Luxembourg lies in the middle of Europe, rendering it a gateway to European markets and their 500 million consumers.
Mohamed Al Nuaimi, Chairman of the Board of the Ras Al Khaimah Chamber, stressed the importance of developing economic relations between Ras Al Khaimah and the Duchy of Luxembourg in order to benefit from the strong economic fundamentals of both parties.
Al Nuaimi expressed the commitment of the Chamber to open new horizons of cooperation between companies and organizations in the Emirate and Luxembourg, particularly in sectors of interest to the Emirate. Such sectors include manufacturing, education, healthcare, tourism, transport, and infrastructure.
This meeting, he said, is an opportunity to explore areas of cooperation and new investment opportunities between Ras Al Khaimah and Luxembourg. He said that there are many economic similarities between the two sides that facilitate mutual cooperation.
He added that business meetings like this are key to opening channels of communications between the business communities of the UAE and other countries, and for introducing them to the investment climate in the country. The UAE, thanks to its vital strategic location and favorable investment environment, is a crucial gateway to the markets of the entire region. As such, it is an ideal base for companies from Luxembourg looking to penetrate the markets of the Middle East, South East Asia, and Africa.
The meeting was attended by Saeed Mohamed Al Sayyah, First Deputy Chairman of the Board of the Ras Al Khaimah Chamber; Youssef Ismael, Ms. Fatimah Hadroum, and Ms. Arifah Al Falahi, Members of the Board of the Ras Al Khaimah Chamber, Dr. Ahmad Rashed Al Shumaili Deputy Director General of Commercial Services and Business Development at the Chamber, and a number of senior officials and investors in the Emirate.
Also attending were representatives of companies and organizations from a variety of economic and industrial sectors in the Emirate such as building and construction, food and beverage, engineering and consulting, banking and finance, as well as legal, industrial, and electrical services.
Discussions at the meeting included setting up an electronic platform to facilitate bilateral trade, the establishment of a centre for training and qualifications to support the industrial sectors, cooperation in the manufacture of vehicles, facilities to help nascent businesses and small projects, and the importance of trade shows for the mutual benefit of both parties. — SG
Prince Guillaume emphasized the importance of expanding areas of cooperation between Ras Al Khaimah and Luxembourg in several sectors. He said it is important to utilize the resources and facilities that both sides offer for the benefit of both economies. Prince Guillaume praised the development and progress that Ras Al Khaimah has witnessed in recent years, and pointed to the increasing interest from companies in Luxembourg in investing in Ras Al Khaimah because of its economic vitality and diversity.
He added that both the UAE and Luxembourg have had a lot of success in developing and growing vital economic sectors, reflecting their ability to continue on the path of sustainable economic development. He said that the diversity of the Luxembourg economy helped it to attract many global companies to invest in it and make it a base for their European operations. He said that Luxembourg lies in the middle of Europe, rendering it a gateway to European markets and their 500 million consumers.
Mohamed Al Nuaimi, Chairman of the Board of the Ras Al Khaimah Chamber, stressed the importance of developing economic relations between Ras Al Khaimah and the Duchy of Luxembourg in order to benefit from the strong economic fundamentals of both parties.
Al Nuaimi expressed the commitment of the Chamber to open new horizons of cooperation between companies and organizations in the Emirate and Luxembourg, particularly in sectors of interest to the Emirate. Such sectors include manufacturing, education, healthcare, tourism, transport, and infrastructure.
This meeting, he said, is an opportunity to explore areas of cooperation and new investment opportunities between Ras Al Khaimah and Luxembourg. He said that there are many economic similarities between the two sides that facilitate mutual cooperation.
He added that business meetings like this are key to opening channels of communications between the business communities of the UAE and other countries, and for introducing them to the investment climate in the country. The UAE, thanks to its vital strategic location and favorable investment environment, is a crucial gateway to the markets of the entire region. As such, it is an ideal base for companies from Luxembourg looking to penetrate the markets of the Middle East, South East Asia, and Africa.
The meeting was attended by Saeed Mohamed Al Sayyah, First Deputy Chairman of the Board of the Ras Al Khaimah Chamber; Youssef Ismael, Ms. Fatimah Hadroum, and Ms. Arifah Al Falahi, Members of the Board of the Ras Al Khaimah Chamber, Dr. Ahmad Rashed Al Shumaili Deputy Director General of Commercial Services and Business Development at the Chamber, and a number of senior officials and investors in the Emirate.
Also attending were representatives of companies and organizations from a variety of economic and industrial sectors in the Emirate such as building and construction, food and beverage, engineering and consulting, banking and finance, as well as legal, industrial, and electrical services.
Discussions at the meeting included setting up an electronic platform to facilitate bilateral trade, the establishment of a centre for training and qualifications to support the industrial sectors, cooperation in the manufacture of vehicles, facilities to help nascent businesses and small projects, and the importance of trade shows for the mutual benefit of both parties. — SG
