The U.S.-U.A.E. Business Council partnered with the U.S. Mission to the U.A.E. to co-lead a commercial trade delegation of 60 U.S. companies to Ras Al Khaimah (RAK) on Thursday, October 17th. His Highness Sheikh Saud bin Saqr Al Qasimi, Ruler of Ras Al Khaimah and U.A.E. Supreme Council Member, met with the delegation alongside leaders from the RAK business community over lunch at the Mövenpick Resort Al Marjan Island. The lunch and subsequent networking session provided U.S.-U.A.E. Business Council member companies and RAK government and business entities the opportunity to engage in introductory meetings to explore new partnerships and advance the growing bilateral collaboration between the United States and RAK.

His Highness Sheikh Saud welcomed delegates to Ras Al Khaimah and shared his vision for the development of the Emirate. He recounted his experience as a child in Ras Al Khaimah and emphasized the remarkable progress made by the Emirate in his lifetime. He credited the visionary leadership of his late father and that of the rulers of the other Emirates, including His Highness President Sheikh Mohamed bin Zayed Al Nahyan for the astonishing development of Ras Al Khaimah and the broader U.A.E. His Highness Sheikh Saud emphasized ongoing dialogue as integral to deepening the bond between RAK and the United States and he stressed that strengthening human connections is key to fostering shared prosperity. H.H. Sheikh Saud welcomed more partnerships with U.S. companies and asked all those in attendance to look for opportunities to partner with Ras Al Khaimah to lay the foundation for a future of greater innovation, economic growth, and mutual understanding.

U.S. Consul General in Dubai Robert Raines thanked H.H. Sheikh Saud for the warm welcome and praised his pragmatic vision for RAK’s economy. Consul General Raines emphasized the significant strides that the government of RAK has made in developing the Emirate and the groundwork that has been laid to create a supportive businesses environment. He noted that Wynn Resorts’ investment of over $2 billion in Ras Al Khaimah amounts to the largest U.S. investment in the U.A.E. to date, and it will serve to attract more innovation and development to the Emirate. Moreover, he highlighted opportunities to further build on the robust bilateral business relationship between RAK and the United States, particularly in the areas of banking, infrastructure, hospitality, and tourism.

Following these remarks, RAKEZ Group CEO Ramy Jallad briefed delegates on RAK’s ambitious development goals and the thriving business environment that exists in the Emirate. Mr. Jallad noted the importance of manufacturing for RAK’s economy, accounting for 25% of its GDP. He highlighted the more than 25,000 companies that operate in the free zone, including more than 500 U.S. companies. He also noted the significance of the Ras Al Khaimah Digital Assets Oasis (RAK DAO) and the Tech Flex Zone, economic zones designed to promote businesses and service providers operating in the domains of technology and innovation, including blockchain, Web3, AI, and other cutting-edge digital technologies. RAK DAO aims to diversity the economy and attract international stakeholders, and has financial and legislative autonomy, making it a tailored hub for the digital asset industry. 

Marjan CEO Abdulla Al Abdouli echoed H.H. Sheikh Saud’s comments on the regulatory environment facilitated by policies implemented by the government that serve to attract businesses to Ras Al Khaimah and support its development.  As the CEO of Marjan, he showcased new developments already completed within the Island development, as well as the numerous new projects that are expected to be completed over the next three years. He discussed the significance of Wynn Hotels and Resorts development in RAK and noted that Wynn is projected to open in Q1 of 2027. He welcomed businesses in attendance to get involved to facilitate and propel the ambitious plans that are coming to fruition on Al Marjan Island.

Delegates then had an opportunity to network with senior leadership from key RAK entities, including RAK International Airport, RAKBANK, RAK Gas, RAK Hospitality Holding, RAK PORTS, RAK Properties, RAKEZ, RAK Tourism Development Authority, Marjan, and Wynn Resorts. Members of the U.S.-U.A.E. Business Council’s Board of Directors, including ADCB, AWS, Bank of America, Boeing, Brookfield, DAMAC, Dell, Deloitte, DLA Piper, e&, Google, Honeywell, HSBC, Jacobs, Lockheed Martin, Medicus Pharma, Morgan Stanley, Palantir, Parsons, and Standard Chartered, as well as over 40 additional Corporate members were represented at the event.

U.S.-U.A.E. Business Council President Danny Sebright thanked H.H. Sheikh Saud for his hospitality and his unwavering support of the U.S.-U.A.E. Business Council as well as of the bilateral commercial and trade relationship over the years. He lauded the geo-economic relationship between RAK and the United States, and committed his support for a roadshow of RAK entities to the United States in 2025. Mr. Sebright added that this visit is part of the U.S.-U.A.E. Business Council’s plans to build, facilitate, and foster relationships between U.S. companies and governments and business entities in the Northern Emirates. 

In recent years, Ras Al Khaimah has emerged as a trade and investment destination for U.S. businesses, most recently highlighted by the projects surrounding the Wynn Hotels and Resorts development in the Emirate. The U.S.-U.A.E. Business Council has worked with RAK and H.H. Sheikh Saud closely since our founding in promoting better understanding of the business and commercial opportunities in RAK.  Wynn Resorts’ decision to invest over $2 billion in RAK is a significant new development that promises to bring much more attention and focus to this exciting and dynamic market.

For more information about this event, please contact Adam Karadsheh at akaradsheh@usuaebusiness.org