Ras Al Khaimah Investment Authority (Rakia), a major provider of investment opportunities in its free zones, highlighted its strategic advantages and key factors for its growth at a recent forum for high-profile CEOs in Dubai.

The forum, held in collaboration with the Arab Business Club at the Emirates Towers Dubai, was attended by more than 125 CEOs from across the region.

It discussed the strategic advantages that the Middle East region, and more specifically Ras Al Khaimah, offers investors and also focused on key factors that enabled Rakia to achieve a 27 per cent increase in licenses issued in 2010 compared to 2009.

Hamdan Mohamed, president and chairman, Arab Business Club, said: “We believe that this forum has contributed to further strengthening business relationships by providing networking opportunities for attendees that could translate into further investments in Ras Al Khaimah.”

“The participation of so many high-profile executives in the forum was an indication that they were keen to interact with other leaders of global enterprises, which has prompted us to host similar events in future. We are on track to reach our goals of empowering the Arab business community by helping them network with other business people, both from the Arab world and beyond,” he added.

Dr Khater Massaad, CEO, Rakia, said: "We are pleased to collaborate with the Arab Business Club to organise this business forum with high-profile CEOs from across the region.”

“This initiative is in line with our continuing efforts to raise awareness about the numerous opportunities that have emerged in Ras Al Khaimah and Rakia's firm commitment to further enhance the emirate's reputation as a world-class business and investment destination.”

“In recent years, investors have appreciated the emirate's centralised location and excellent business infrastructure, which are crucial in giving investors a significant advantage in the market. The ever-growing investor confidence in Ras Al Khaimah is reflected in the impressive year-on-year performance of Rakia,” Dr Massaad concluded.
Rakia issued 1,108 licenses in 2010, improving by 27 per cent from 2009 and 62 per cent compared to 2008, a statement said.

As of December 31, 2010, there were 3,679 business licenses issued by Rakia since 2006, broken into 1,042 consulting/service companies, 1,028 trading/general trading businesses, 659 commercial companies, 628 industrial firms and 322 media businesses, it added. – TradeArabia News Service