From the CEO’s Desk: Exploring the cutting-edge at GITEX, MoU with Tianjin FTZ, and strengthening UAE-Canada ties

Welcome to the newest installment of 'From the CEO's Desk'! With October behind us, let's reflect on the highlights of the month.

RAKEZ signs MoU with China’s Tianjin Pilot Free Trade Zone

We started the month with a significant partnership.?

Ras Al Khaimah Economic Zone (RAKEZ) and China’s Tianjin Pilot Free Trade Zone (Tianjin FTZ) entered into a landmark partnership to strengthen economic ties and foster cross-border opportunities between Ras Al Khaimah and China.?

The business relations were formalized through a Strategic Cooperation Agreement with China (Tianjin) Pilot Free Trade Zone and a Memorandum of Understanding (MoU) with Tianjin Port Free Trade Zone.

Through this collaboration, RAKEZ and Tianjin FTZ seek to accelerate mutual growth by attracting foreign direct investment and enhancing the economic ecosystems in both regions. It will also enable the exchange of expertise and resources, fostering the development of key sectors while positioning both zones as prime destinations for cross-border business expansion and collaboration.

Highlighting opportunities in the UAE’s tech sector at GITEX

It was October, which meant it was time for another iteration of the world's largest tech and startup event.

RAKEZ participated in GITEX Global 2024, including the niche exhibition segment—Expand North Star—dedicated to connecting startups with tech industry leaders across 100 countries.?

We highlighted the substantial advantages for tech companies looking to establish or expand their operations in the UAE, such as significantly lower operating costs—up to 40% less than other regional markets—enhancing their ability to scale efficiently.?

RAKEZ also participated in a panel discussion on how trends in innovation will shape the UAE’s future landscape.

GITEX Global and Expand North Star are the best-suited platforms for technology firms looking to tap into or expand within the Middle Eastern markets. These events align with the UAE’s governmental efforts to integrate digital transformation into our national strategies, emphasizing the importance of technology in diversifying the economy.?

RAKEZ strengthened business ties with Canada

RAKEZ continues to build on its position as a premier destination for global investment, following a successful week-long roadshow across Canada in October. The initiative engaged Canadian businesses, showcasing the wide range of investment opportunities and strategic advantages that make Ras Al Khaimah a leading gateway for business expansion into the Middle East, North Africa (MENA) region, and beyond.

Throughout the roadshow, RAKEZ conducted numerous B2B meetings with Canadian companies looking to capitalize on Ras Al Khaimah’s cost-efficient and low-tax business environment, as well as easy access to emerging markets in the MENA region.?

Given that the UAE was ranked as one of the leading destinations for Canadian exports in the MENA region in 2023, these meetings emphasized how establishing a presence in Ras Al Khaimah provides Canadian businesses with a strategic foothold to expand their operations and tap into new, growing markets.

With bilateral trade between Canada and the UAE surpassing USD 2 billion, there is growing momentum to explore the vast opportunities available in Ras Al Khaimah. Our goal is to strengthen economic ties between Canada and the UAE by facilitating investments that benefit both regions.?

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ABOUT THE AUTHOR

Ramy Jallad is the Group Chief Executive Officer of Ras Al Khaimah Economic Zone (RAKEZ), one of the largest economic zones in the region. With over three decades in FDI attraction, business and industrial park development, award-winning customer experience, merger and acquisition, and A-Z digital transformation integration, he has significantly impacted the UAE’s economic development across various sectors.

Since starting at RAKEZ, he has been pivotal in multiplying its growth from 7,500 to over 20,000 companies. Ramy is renowned for his ability to build economic zones from the ground up, create innovative business environments and the right ecosystem that evolve organizations into successful multi-million-dollar powerhouses, and under his leadership thrives an aligned and engaged team of 460 multicultural professionals who are experts in their fields.