Rakez highlights investment prospects for Russian firms

RAS AL KHAIMAH / WAM

A delegation from Ras Al Khaimah Economic Zone (Rakez) has concluded its visit to Russia with participation in multiple business events where they engaged with entrepreneurs across a range of industries, from construction and manufacturing to information technology and fast-moving consumer goods trading.
Rakez Group CEO Ramy Jallad said, “Rakez has been a favoured business hub for Russian entrepreneurs, who have emerged as our top 5 investors over the past few years. With a considerable presence of nearly 600 Russian companies already established in Rakez, enjoying a seamless experience of conducting business in Ras Al Khaimah, along with access to highly profitable markets in the region.”
The events where the economic zone team highlighted investment opportunities in Ras Al Khaimah included Epam Corporate Law Day, Skolkovo Business School Alumni Meet, and the Atlantly Business Club Dinner.
During the Epam Corporate Law Day, the economic zone delegates were among the panellists who discussed business relocation, expansion, and new set-ups in the UAE with hundreds of Russian law firm representatives.
Similarly, at the Skolkovo Business School Alumni Meet, the Rakez team participated in a roundtable discussion with local business owners about the current demand and potential of services in the UAE such as new technologies, ways to find the right investment, and access to local markets. The audience was also keen on exploring sectors such as cement, building materials, engineering services, and raw materials trading.
Lastly, during the Atlantly Business Club Dinner themed ‘Opportunities for Production Companies to expand to Mena region from Rakez’, the economic zone team catered to SME players looking to understand the UAE business set-up requirements, licensing formalities, and the processing timeframe.
The Rakez team also visited major manufacturers and met with company owners in the building and construction sectors during the MosBuild Exhibition in Moscow to address queries about access and connectivity to other markets through Ras Al Khaimah and the emirate’s cost-effectiveness for logistical operations.
Jallad added, “Overall, the visit was a success and showcased the potential for fruitful business relationships between Ras Al Khaimah and Russia. Our team had the chance to interact with potential investors from around 300 SMEs as well as large corporations, and we are looking forward to supporting them to set up their base and expand to the world through the emirate.”