The Gulf and international business community was introduced to investment opportunities available to entrepreneurs in Ras Al Khaimah at a conference held recently in the emirate.

Organised by Ras Al Khaimah Investment Authority (Rakia), a state institution, in partnership with business intelligence firm Middle East Economic Digest (Meed), it brought together an impressive line-up of prominent industry figures, thought leaders, international and regional investors and key government officials.
Dr Khater Massaad, CEO of Rakia, said participants would discover “new paradigms of investment.” He explained that Rakia was set up to fulfill the government’s vision to build a diverse economy enjoying strong and sustainable growth by attracting domestic and foreign investments and creating in the process wealth and an improvement in the standard of living of Ras Al Khaimah’s people.
He stressed the importance of private sector contributions to socio-economic development. “We have to make sure that the private sector is provided with the appropriate regulatory framework to operate efficiently and productively. In this regard, the role of the government is primarily to create the optimum environment for enterprise planning by providing sufficient infrastructure support,” he said.
Raman Iyer, technical director and general manager of Rakia, provided an overview of the authority’s projects, highlighting the various investment opportunities available through it and briefing the audience about the organisation’s history, vision and mission.
Edmund O’Sullivan, chairman of Meed Events, spoke at the opening. Also making speeches at the morning session were representatives from KPMG, Global Investment House, Khoie Properties and Rasmala Investments. The highlight was a keynote address in the afternoon by Sheikh Saud bin Saqr Al Qasimi, Crown Prince and Deputy Ruler of Ras Al Khaimah,
 “We are continuing to implement initiatives to strengthen our partnerships with investors so as to create the optimum environment for the development of enterprise and industry in Ras Al Khaimah,” Sheikh Saud said.
The RAK Conference 2008 agenda also featured informative presentations by organisations including Rakia, Al Tamimi & Company, Global Investment House, Gulf Pharmaceutical Industries (Julphar), Halcrow International Partnership, KPMG, KHOIE Properties, Rakeen, RAK Properties, RAK Tourism, Hilton Hotels and Rasmala Investment.
Meanwhile, Ras Al Khaimah signed a Dh348 million ($94.76m) contract with China Harbour Engineering Company for the development of Hulayla Industrial Park, near Port Saqr.