The Ras Al Khaimah Chamber of Commerce and Industry (RAKCCI) has announced the opening of its new building complex that houses entities like RAK exhibition centre, reconciliation and commercial arbitration centre.

Sheikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah inaugurated the new nine-storey office building located in the heart of the city in Al Nakheel. Sheikh Mohammed bin Saud bin Saqr Al Qasimi, RAK Crown Prince was also present.

Speaking at the opening ceremony, Sheikh Saud said, “UAE has been able to successfully overcome the financial crisis due to its sound economic policies 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 said the UAE economy was 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.

Yousuf Obaid Al Nuaimi, chairman of the board of RAKCCI said the inauguration 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.”
 
Al Nuaimi pointed out that the number of firms registered with RAKCCI has grown steadily from 13,000 in 2005 to 23,000 in 2011.

RAKCCI, he said, 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 activities of Saud bin Saqr Programme for Young Business Leaders to promote UAE entrepreneurs.

Sheikh Saud later honoured Sheikh Abdul Malik bin Kayed Al Qasimi, the founding chairman of RAKCCI, and other former heads of RAKCCI at the function.-TradeArabia News Service