Global investors' conference ends

RAS Al KHAIMAH — The first global investors' conference, organised jointly by the Government of Ras Al Khaimah and The World Bank, ended on a high note here yesterday with the organisers announcing that the conference would be made an annual event, with the second edition scheduled to the held in March next year.

By Our Staff Reporter

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Published: Tue 31 May 2005, 10:25 AM

Last updated: Thu 2 Apr 2015, 5:12 PM

The high profile event, which attracted investors from all across Europe, US, Asia and the GCC countries surpassed all expectations as More than 600 delegates attended the two- day conference, designed to Showcase RAK as a favoured investment destination. "I am very happy with the response that we got from the global investor community. The aim of the conference was to create awareness about Ras Al Khaimah as an investment destination.

The high turnout of delegates for the conference attests the fact that we have succeeded in that. Our next goal is to develop this initiative in tune with the long term developmental strategy of the emirate", said Dr. Khater Massaad, Advisor to the RAK Crown Prince and CEO of the RAK Investment Authority.

"We will try to organise this event every year and the next conference will be held some time in March next year", he added.

The organisors were also able to chalk out a strategy for accelerating the inward flow of investments during the conference.

The new Industrial and Technology Development Fund, announced at the opening session of the conference is expected to provide a boost to the industrial environment of the emirate.

"The Fund announced by Shaikh Saud bin Saqr Al Qasimi, Crown Prince and Deputy Ruler of Ras Al Khaimah, will be available for viable projects which have a funding gap or where investors, for strategic reasons, want to have a transparent and supportive business partner", Dr. Khater Massaad said. The fund would be managed by the RAK Investment Authority. Dr Massaad said that RAK Government was able to sign four MoU's during the conference. "In addition, we have received a lot of serious proposals from companies and business groups on possible investments, particularly in the hotel and industry sectors", he pointed out.

The RAK Investment Authority, on its part, prepared project reports on 20 industrial products, which investors might find attractive to manufacture in RAK. The project briefs outline the comparative advantage of RAK, the current supply and demand for the products in the market and also the investment and the workforce needed for setting up the firms.

"We have prepared these project briefs for prospective investors. We are contacting potential players in these sectors and inviting them to set up manufacturing firms in RAK.''

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