Wynn Resorts, whose Wynn Las Vegas is pictured, announced in 2022 plans for an 'integrated resort' in the UAE emirate of Ras al-Khaimah

Sheikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah, said in an address that the United Arab Emirates has the potential to establish an inclusive, sustainable, and universal investment landscape.

Speaking at the opening ceremony of the 13th edition of the AIM Congress on Tuesday in Abu Dhabi, the Ruler of Ras Al Khaimah emphasized how the UAE has expanded its investment potential over the period.

The event was held under the "Adapting to A Shifting Investment Landscape: Harnessing New Potentials for Global Economic Development" theme at the Abu Dhabi National Exhibition Centre (ADNEC).

"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," he was quoted as saying by WAM.

Al Qasimi further said that the Middle Eastern country has become a key source of FDI on an international level.

He explained that the "UAE has demonstrated that when wisdom and a sense of duty meet vision and hard work, anything is possible," crediting President Sheikh Mohamed bin Zayed Al Nahyan for inspiring every leader in the country.

The Ruler of Ras Al Khaimah praised the president for showing that "with the right vision and right plan, dreams can be achieved," adding that a "dream is just a dream, if there is no hard work."

"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," he added.

Al Qasimi highlighted in detail how the country has achieved economic, investment, and social development over the years. The ruler said the UAE first channeled its strategic wealth into the construction of infrastructure and the formation of robust institutions. It then invested in soft infrastructure such as 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," he added.

The 13th edition of the AIM Congress will be a three-day event, until May 9, featuring Al Qasimi as guest of honor.

Last month, an international building materials supplier Peikko Gulf expanded its Ras Al Khaimah facility to increase its manufacturing capabilities by around 40% to cater to the growing market needs and work on larger projects in the region.