News

Sheikh Saud opens new building of RAK Chamber of Commerce and Industry

Monday, May 16, 2011
H.H. Sheikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah, inaugurating the new building of RAK Chamber of Commerce and Industry in Ras Al Khaimah on Sunday.

H.H. Sheikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah, today inaugurated the new building of RAK Chamber of Commerce and Industry (RAKCCI) in the presence of H.H. Sheikh Mohammed bin Saud bin Saqr Al Qasimi, Crown Prince of Ras Al Khaimah.

The new nine- storey office building provides businesses a convenient way to access RAKCCI- related services and is ideally located in the heart of the city in Al Nakheel. The building complex also houses entities like RAK Exhibition Centre, RAK Reconciliation and Commercial Arbitration Centre and the Saud bin Saqr Programme for Young Business Leaders.

Speaking on the sidelines of the opening function, H.H. Sheikh Saud said, “UAE has been able to successfully overcome the global financial crisis due to the sound economic policies pursued by the country under the wise leadership of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, which have been characterized by a vigorous pursuit of the country’s economic diversification strategy with increased emphasis on industry, trade and other sectors.”

Sheikh Saud added that UAE economy is poised for strong growth by taking advantage of its several competitive advantages including strategic location and excellent infrastructure facilities, where investors are assured of a stable and secure environment with a business- friendly investment climate.

He said that the opening of the new building of RAKCCI reflects RAK Government’s commitment to develop the private sector as well as activate a meaningful partnership between the public and private sectors towards achieving sustainable economic growth.

Speaking at the function, Yousuf Obaid Al Nuaimi, Chairman of the Board of RAKCCI, “The inauguration of the new RAKCCI building marks a major milestone in the organisation’s 44- year old history during which it has made significant contributions to the economic development of the emirate by creating investment opportunities and through capacity building of the emirate’s private sector.” 

He noted that the number of firms registered with RAKCCI has grown steadily from 13,000 in 2005 to 23,000 in 2011.

Yousuf Al Nuaimi added that RAKCCI will now be able to provide under one roof a comprehensive range of services like consultancy and export promotion activities, institution building for SME sector, legal services including conciliation and arbitration services and the activities of the Saud bin Saqr Programme for Young Business Leaders to promote and facilitate UAE entrepreneurs. 

Sheikh Saud honoured Sheikh Abdul Malik bin Kayed Al Qasimi, the founding Chairman of RAKCCI, and other former heads of RAKCCI at the function.
The dignitaries who attended the function include Sheikh Omar bin Saqr Al Qasimi, Chairman of RAK Airways, Sheikh Faisal bin Saqr Al Qasimi, Chairman of RAK Finance Department and RAK Free Trade Zone, Sheikh Abdul Malik bin Kayed Al Qasimi, Advisor to H.H. The Ruler of Ras Al Khaimah. Sheikh Salem bin Sultan Al Qasimi, Chairman of RAK Civil Aviation, Sheikh Abdullah bin Humaid bin Abdullah Al Qasimi, Chairman of the Office of the Ruler of Ras Al Khaimah, Sheikh Mohammed bin Kayed Al Qasimi, Vice Chairman of RAK Department of Economic Development, other sheikhs, heads of government departments and senior officials.

Mohammed Thani Al Rumaithi, Board Chairman of the Federation of UAE Chambers of Commerce and Industry and Secretary General, Abdullah Sultan Abdullah, along with heads of various Chambers of Commerce and Industry in the UAE were also present at the function.