HH Sheikh Saud bin Saqr delivers keynote address at AIM Congress in Abu Dhabi, stating the UAE is capable of shaping a new investment landscape that is ‘inclusive, sustainable and global’
- His Highness Sheikh Saud bin Saqr Al Qasimi tells delegates to the 2024 Congress in Abu Dhabi: “development can, and should, be reciprocal”
- The Ruler of Ras Al Khaimah, as Guest of Honor, told delegates how the UAE has demonstrated that: “when wisdom and a sense of duty meet vision and hard work, anything is possible”
Abu Dhabi, UAE – May 7, 2024: His Highness Sheikh Saud bin Saqr Al Qasimi, UAE Supreme Council Member and Ruler of Ras Al Khaimah, delivered the keynote address at the opening of the 13th edition of the AIM Congress today in the capital of the UAE, Abu Dhabi.
The opening ceremony saw the participation of His Excellency Andry Rajoelina, President of the Republic of Madagascar; His Highness Sheikh Mohammed bin Saud Al Qasimi, Crown Prince of Ras Al Khaimah; Sheikh Hamed bin Zayed Al Nahyan; His Excellency Sheikh Nahyan bin Mubarak Al Nahyan, UAE Minister of Tolerance; Sheikh Khalid bin Saud Al Qasimi, Vice Chairman of Ras Al Khaimah’s Investment and Development Office; His Excellency Sheikh Shakhboot Nahyan Al Nahyan, UAE Minister of State; His Excellency Dr Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology; His Excellency Dr Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade; and His Excellency Ahmed Aboul Gheit, Secretary General of the Arab League.
The Congress, held under the theme, Adapting to A Shifting Investment Landscape: Harnessing New Potentials for Global Economic Development, runs for three days until May 9, 2024, at the Abu Dhabi National Exhibition Centre (ADNEC), with HH Sheikh Saud as Guest of Honor.
During the event’s opening keynote address, HH Sheikh Saud emphasized how the UAE’s investment journey has evolved and expanded over time, highlighting that the country has become a key source of FDI on a global scale. HH Sheikh Saud stated: “The UAE has always understood that development can, and should, be reciprocal. I am convinced that by joining forces, we can establish a new investment landscape, with growth that is inclusive, sustainable, and as far as possible, universal.”
HH Sheikh Saud also spoke of the UAE’s progress and how strong and inspiring leadership is pivotal to the nation’s success, saying: “The UAE has demonstrated that when wisdom and a sense of duty meet vision and hard work, anything is possible. The commitment shown by our President, His Highness Sheikh Mohamed bin Zayed Al Nahyan, to our people and our future inspires us all, and HH has shown that, with the right vision, and the right plan, dreams can come true.”
On the UAE’s economic development since its foundation, HH Sheikh Saud said that it would have remained a dream had it not been for continual and strenuous effort. “A dream is just a dream without hard work,” he said. “Without a vision and a plan, and without a good strategy, work without purpose may lead to chaos and a waste of a country’s resources. When it comes to delivering outcomes, wisdom and a sense of duty are the differentiators.”
HH Sheikh Saud went on to detail how the UAE has achieved such levels of investment and economic and social development, stating: “Firstly, we channeled our strategic wealth into the construction of infrastructure, and the formation of robust institutions. Secondly, we concentrated on the soft infrastructure – the establishment of a regulatory, legal and commercial environment that gives investors’ confidence. Thirdly, and perhaps most importantly, we nurtured our greatest asset, our people, understanding that to thrive we needed to educate the generations, and the leaders, to come.”
AIM Congress 2024, supported by the UAE Ministry of Industry and Advanced Technology and the Abu Dhabi Department of Economic Development as the lead partner, witnessed significant attendance on its first day. Notable attendees included Ministers, Government Officials, and decision-makers from around the world, in addition to leading investors, major corporations, startups, small and medium-sized enterprises, international organizations, and more than 12,000 visitors from over 175 countries.
AIM Congress, an initiative of the AIM Global Foundation, aims to formulate investment strategies and policies, promote investment and economic opportunities, enhance international economic relations, and devise innovative solutions to address current and future global challenges and developments, ultimately striving towards a prosperous and sustainable global economy.
The opening ceremony included keynote speeches and live panel discussions with senior policymakers and top business leaders, aimed at exchanging knowledge, experiences, and insights with participants, exploring strategies for adapting to global investment landscape transformations, and finding solutions to address challenges. The list of speakers featured prominent officials and influential economic figures, notably also including a keynote speech by HE Ahmed Aboul Gheit, Secretary General of the Arab League.
-ENDS-
His Highness Sheikh Saud bin Saqr Al Qasimi, UAE Supreme Council Member and Ruler of Ras Al Khaimah – AIM Congress Opening Keynote Address in full:
Your Highnesses, Your Excellencies, distinguished guests,
I am delighted to welcome you to the opening ceremony of the 13th edition of the AIM Congress here in Abu Dhabi.
We are here to discuss investment, which is the key to emerging economies becoming advanced economies.
Our hunger for development runs through our DNA, and investment has always been at the heart of our story.
But what you see around you today could easily have remained a dream.
After all, a dream is just a dream without hard work.
And without a vision and a plan, and without a good strategy, work without purpose may lead to chaos and a waste of a country’s resources.
When it comes to delivering outcomes, wisdom and a sense of duty are the differentiators.
So how did we do it?
Firstly, we channelled our strategic wealth into the construction of infrastructure, and the formation of robust institutions.
Secondly, we concentrated on the soft infrastructure – the establishment of a regulatory, legal and commercial environment that gives investors confidence.
Thirdly, and perhaps most importantly, we nurtured our greatest asset, our people, understanding that to thrive we needed to educate the generations, and the leaders, to come.
We bet on them and their future achievements through investments in science, technology and state-of-the-art educational institutions.
We did this understanding that education is only part of the puzzle.
After all, our Founding Fathers had little formal education, but that didn’t stop them having the wisdom which guided them and led us to where we are today.
We are indebted to these great leaders, with Sheikh Zayed guiding the way.
Today their vision remains unchanged, led by my brothers, the Rulers of the Emirates, and our President Sheikh Mohamed, whose commitment to our people and to our future inspires us all.
With the right vision, and the right plan, the dream came true.
And it continues to be built upon, by new generations of Emiratis, and by the expats that have made the Emirates their home and have contributed to our success story.
Of course, like every nation, along the way we might have made mistakes, and we might make more.
But we showed our people, and the wider world, that we had the character to learn from our mistakes and challenges, and course correct quickly, to keep our mission on track.
By showing this flexibility, by being open, by being bold, we were able to rise quickly – and in time, attract the finest minds and most original thinkers to complement our own, home-grown talent.
Let me share some numbers:
Today, the Emirates accounts for around one third of the total FDI into the MENA region.
We rank second after the US for greenfield FDI in 2023, underlining our status as a destination for the world’s biggest, boldest projects.
This investment has allowed us to relentlessly reshape our economy, taking hydrocarbons’ share of national GDP below 30%.
Furthermore, we hope to attract 150 billion dollars in foreign investment by 2031 and rank among the top 10 destinations for FDI.
But this is not just one-way – we are among the top 15 leading nations in global FDI.
These figures don’t just mean economic success – they mean economic development.
It means the development of new clusters of excellence in sectors such as:
- Renewable energy
- Fintech and financial services
- AI & Digital Assets
- Space science
- Logistics
- Aviation and
- Tourism
Now, let me tell you about our Emirate, Ras Al Khaimah.
We are one of the longest continually inhabited places on the planet, a destination for cultures to come together, cooperate and flourish.
Our environmental diversity, from our rugged mountain peaks to our endless beaches, has provided pathways for our people to thrive.
Our tourism sector witnessed the highest number of visitors in the Emirate’s history in 2023, and overall, our visitor arrivals, which jumped by more than 60% in the last eight years, are expected to triple by 2030.
And at the same time as we were building this global reputation as a tourist hub, we have seen the value of our yearly real estate transactions double since pre-Covid levels.
The total number of companies in our free zones almost doubled in the last 10 years.
This all comes as the trade volumes through our ports increased five times in the last 20 years.
Our economic ambitions have always been in harmony with our environment and the communities it supports.
In Ras Al Khaimah, our vision is built on these four pillars:
- Empowered citizens who are shaping their own future.
- A natural environment that safeguards our historical and cultural identity.
- An engaged government that builds bridges for prosperity and progress.
- A vibrant, sustainable economy that can serve as a key to a better tomorrow.
Today, a host of world-renowned businesses now call our Emirate their home, and they have thrived and prospered.
More are coming, and I hope some of you in the audience may join us.
Ladies and gentlemen,
I began this speech by saying that when wisdom and a sense of duty meet vision and hard work, dreams come true.
The Emirates has demonstrated that when investment and development are done right, national success soon becomes the world’s success.
Just as the world’s oceans are interconnected, so, too, are its people.
Recently, blue and white porcelain from the time of the Yuan Dynasty, in the 13th and 14th centuries, was found in Ras Al Khaimah.
This porcelain is hardly ever found. It suggests that archaeologists are only just beginning to understand the depth our trade with China along the Silk Road.
Only a short while later, in the 15th century, our famous son, Ras Al Khaimah navigator Ahmed bin Majid was trading across the seas – exploring new frontiers, discovering new cultures, and forging new connections.
Emiratis understand that our future consists of looking outwards and working together.
We were born with this understanding. We are a nation built on trade.
We have always understood that development can, and should, be reciprocal.
I am convinced that by joining forces we can forge a new investment landscape, with growth that is inclusive, sustainable, and as far as possible, universal.
You can be sure of one thing; the Emirates will be there to play its role.
I would like to wish you all a very successful conference.
Thank you.
About His Highness Sheikh Saud
His Highness Sheikh Saud bin Saqr Al Qasimi is a Member of the Supreme Council of the UAE and Ruler of Ras Al Khaimah (RAK). Born in Dubai in 1956, he was educated in Ras Al Khaimah before attending the American University of Beirut. He later moved to the University of Michigan, graduating with an Economics Degree.
He returned home in 1978 and was appointed Chief of the Ruler’s Court before becoming Chairman of Ras Al Khaimah Municipal Council in 1986. In this period, H.H. Sheikh Saud founded RAK Ceramics and restructured Julphar Pharmaceuticals and Stevin Rock to ensure both became the industry leaders they are today.
H.H. Sheikh Saud was named Crown Prince of Ras Al Khaimah on 14 June 2003. In this role he oversaw the introduction of free zones, efficient business licensing procedures and offshore corporate registration.
On 27 October 2010, after the passing of his father H.H. Sheikh Saqr (May he rest in Peace), H.H. Sheikh Saud became the Ruler of Ras Al Khaimah. As Ruler, he has continued to expand and diversify Ras Al Khaimah’s economic base and improve the quality of its social services, while working hard to make high-quality education and healthcare services available to all the Emirate’s population.
H.H. Sheikh Saud received an Honorary Doctorate from the University of Bolton, UK, in 2010; an Honorary Fellowship of the Jawaharlal Nehru Centre for Advanced Scientific Research in India, in 2013; and an Honorary Doctorate Degree in Economics from Incheon National University, South Korea, in 2018, a year in which he was also named Visionary Leader of the Year by Arabian Business.
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