H.H. Sheikh Saud bin Saqr Al Qasimi: Ras Al Khaimah’s vision for sustainable development is strengthening its position as a leading destination for investments
Ras Al Khaimah (UAE), September, 7, 2023: His Highness Sheikh Saud bin Saqr Al Qasimi, UAE Supreme Council Member and Ruler of Ras Al Khaimah, today formally inaugurated Motherson’s facility in Ras Al Khaimah Economic Zone (RAKEZ), stating that the Emirate’s vision for sustainable development is strengthening its position as a leading destination for investments and that its local economy is evolving to increase its contribution to the overall growth of the UAE.
“In Ras Al Khaimah, we have an integrated strategy to diversify the economy and achieve balanced growth across all sectors in a manner that ensures the sustainable development of our Emirate and adherence to our national objectives,” H.H. Sheikh Saud said. “This strategy lends great flexibility to the Emirate’s economic ecosystem, allowing us to keep pace with rapid changes across all sectors and to enhance our competitiveness to be among the most sought-out business destinations in the region and the world.”
H.H. Sheikh Saud’s comments came as he inaugurated the Motherson facility at RAKEZ’s Al Hamra Industrial Zone. Motherson is one of the largest global companies specializing in manufacturing wiring harnesses for commercial vehicles and other special purpose vehicles around the world. The inauguration was ceremony was attended by Sheikh Mohammed bin Humaid Al Qasimi, RAKEZ Managing Director, Mr. Vivek Chaand Sehgal, Chairman of Motherson, along with several officials from both RAKEZ and Motherson.
H.H. Sheikh Saud expressed his confidence that the factory will be a strong addition to the thriving manufacturing sector in Ras Al Khaimah, which contributes about 30% to the Emirate’s GDP. After unveiling the plaque to open the factory, H.H. Sheikh Saud toured the facility and was briefed on its advanced manufacturing technologies.
The state-of-the-art facility is Motherson’s eighth in the region, with others located in Dubai and Sharjah, highlighting the UAE’s crucial role in the company’s strategy. The company employes over 180,000 people in 41 countries across five continents and is a key supplier to German, Spanish, French, U.S. Japanese and Indian automotive manufacturers.
