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Ras Al Khaimah and Singapore to strengthen construction ties

Rak's Mohamed Ali Musabbeh Al Nuaimi meets Singapore's Low Pit Chen to discuss future investment opportunities

Rak and Singapore are seeking further collaboration.
Rak and Singapore are seeking further collaboration.

Representatives from Ras Al Khaimah and Singapore have pledged to strengthen bilateral relations in a bid to explore investment opportunities for the construction sector.

According to UAE state news agency, Wam, chairman for Ras Al Khaimah’s Chamber of Commerce and Industry, Mohamed Ali Musabbeh Al Nuaimi, met with Singapore’s Consul-General in Dubai and the Northern Emirates, Low Pit Chen, to discuss mutual ties and economic issues.

During the meeting, Al Nuaimi outlined investment opportunities in both countries for the construction industry, adding that Ras Al Khaimah had demonstrated “significant growth” during the last 10 years.

He added: “The UAE Government has issued many decisions to stimulate, activate and facilitate businesses, specifying 122 economic activities to become eligible for 100% foreign ownership.

“This shall positively affect the economy on a short- and long-term basis, and offer the opportunity to international companies to expand their business in the UAE.”

Pit Chen added there were many companies from Singapore seeking meetings with Emirati investors to find new markets for their products and discuss investment opportunities in both countries across different sectors.

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Construction Week - Issue 759
Feb 22, 2020