Ras Al Khaimah, 18 September 2023: A delegation from the Ministry of Industry and Advanced Technology (MoIAT), led by His Excellency Omar Al Suwaidi, Undersecretary of MoIAT, visited Ras Al Khaimah Economic Zone (RAKEZ) to explore the business ecosystem and identify potential areas of collaboration to enhance the emirate’s investment attractiveness. The visit is in line with the objectives of National Strategy for Industry and Advanced Technology and MoIAT’s efforts to develop the sector by collaborating with strategic partners.
HE and the accompanying delegation were received by Ramy Jallad, Group CEO of RAKEZ, alongside several leaders and officials from local and international industrial companies headquartered in the economic zone.
During the visit, the delegation toured RAKEZ’s industrial facilities, engaging in discussions with major companies including Motherson PKC Harness and RAK Ceramics to gain insights into operations and sustainability practices.
MoIAT provided an overview of the enablers and incentives available for the industrial and advanced technology sectors. The ministry highlighted opportunities for collaboration with companies looking to participate in the Industrial Technology Transformation Index (ITTI), which is aimed at boosting the national economy and strengthening the UAE’s position as a global industrial hub.
The MoIAT delegation met with companies that recently joined RAKEZ under different priority sectors. The visit also included an overview of the economic zone’s upcoming participation in international roadshows to promote FDI in the UAE.
His Excellency Al Suwaidi emphasized MoIAT’s commitment to innovation across industrial initiatives in line with the UAE leadership’s vision. He highlighted the ministry’s unwavering dedication to fostering an attractive business environment for industrial investors and promoting the growth and competitiveness of local products, particularly in vital sectors. His Excellency added that such efforts align with the objectives of the ‘Make it in the Emirates’ initiative, which brings together federal and local government entities as well as the private sector.
His Excellency added: “The ministry’s strategy focuses on building partnerships to bolster the business ecosystem for both local and international investors within industry. Under the Make it in the Emirates initiative and the National In-Country Value (ICV) Program, one of the Projects of the 50, MoIAT supports vital sectors to promote industrial growth. In 2022, companies invested more than AED 53 billion through the program – a 25% increase. In addition, the Technology Transformation Program plays a pivotal role in accelerating companies’ growth and ensuring sustainable production across various industries.”
His Excellency Al Suwaidi praised RAKEZ for its enablers, innovative business infrastructure and role as a gateway to international trade. His Excellency noted that the emirate has emerged as a key platform for investment, engaging investors across all axes of manufacturing which significantly contributes to advancing the national industrial sector.
For his part, RAKEZ Group CEO Ramy Jallad said: “MoIAT’s visit underscores the importance of fostering strong collaborations between government bodies and economic zones. Both the ministry and RAKEZ are committed to nurturing and supporting the industrial sector. By listening and understanding the needs of businesses operating in RAKEZ, we can collectively work towards ensuring a thriving industrial sector in the UAE.”
The visit further strengthened RAKEZ’s ties with the MoIAT following recent collaborations including a partnership to accelerate the adoption of advanced technologies among industrial companies and strengthening the UAE’s attractiveness as an investment destination. RAKEZ recently joined MoIAT’s Industrial Technology Transformation Index, which measures Industry 4.0 and sustainability readiness in the manufacturing sector to drive sustainable technology.
His Excellency Al Suwaidi was accompanied by Her Excellency Dr. Farah Al Zarooni, Assistant Undersecretary for the Standards and Regulations Sector at MoIAT. Also present were His Excellency Osama Amir Fadhel, Assistant Undersecretary for the Industrial Accelerators Sector at MoIAT and senior representatives from different sectors.
