Sheikh Saud stresses importance of enhancing economic cooperation

His Highness Sheikh Saud Bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah, emphasised the importance of enhancing economic and investment cooperation with various strategic partners to drive sustainable development and strengthen Ras Al Khaimah’s growing position as a leading centre for business prosperity and a preferred destination for establishing enterprises.

This came when Sheikh Saud received on Thursday Martina Strong, the US Ambassador to the UAE, and a delegation from The American Business Council in Dubai (AmCham Dubai), along with major American companies, at his palace in Saqr Bin Mohammed City, in the presence of several Ras Al Khaimah officials.

During the meeting, they reviewed the growing trade relations and strategic partnership with the US, discussed ways to enhance these relations across various economic sectors, and explored the investment and economic opportunities available in Ras Al Khaimah for businesses.

Sheikh Saud also witnessed the signing of a Memorandum of Understanding (MoU) between the Ras Al Khaimah Economic Zone (RAKEZ) and the AmCham Dubai, to enhance cooperation and support the business community of both parties.

Ramy Jallad, Group CEO of RAKEZ, and Sammy Bousaba, Chairman of AmCham Dubai, signed the MoU.

Ambassador Martina Strong and the US delegation expressed their sincere gratitude and appreciation to the Ruler of Ras Al Khaimah for the hospitality and warm reception, praising the depth of economic relations between the UAE and the US and the exceptional investment environment in Ras Al Khaimah.

A few days earlier,Ras Al Khaimah Economic Zone (RAKEZ) has launched Workers Protection Insurance Programme, a key initiative in partnership with RAKINSURANCE.

This programme is set to significantly enhance workers’ financial security and welfare within the RAKEZ-registered companies and aligns with the Ministry of Human Resources & Emiratisation’s (MoHRE) focus on strengthening employee financial security.

The new insurance solution will replace the current visa deposit requirements, offering comprehensive insurance coverage that includes due and unpaid salaries, end-of-service gratuity, repatriation costs, and coverage for work-related injuries.

The signing ceremony, attended by RAKEZ Group CEO Ramy Jallad and RAKINSURANCE CEO Sanjeev Badyal, highlights the collaborative efforts to enhance worker protections and support Ras Al Khaimah’s economic and social development. “This initiative is not just about compliance, but about going above and beyond to ensure that our business community is supported at every level. By safeguarding the interests of these workers, we strengthen the foundation of trust and stability that RAKEZ is built upon,” Jallad said.

WAM