The Ras Al Khaimah Investment Authority (Rakia) has signed a memorandum of understanding with the London-based Economist Intelligence Unit (EIU). 

The initiative will see Rakia and the EIU working to implement and manage a series of top-tier, invitation-only business conferences throughout Western Europe initially in London, Paris and Frankfurt.

The move follows a successful pilot seminar of CEOs held in Tokyo recently. 

“Rakia has ambitious plans to expand its manufacturing base,” said chief executive officer Dr Khater Massaad.

“We have already entered into arrangements with a number of international manufacturers and we plan to increase the industrial and manufacturing sector in Ras Al Khaimah to represent 40 per cent of total GDP by the end of the decade.” 

RAK offers exceptional facilities to overseas manufacturers that make industries globally competitive. It offers unique incentives and advantages to potential investors who now consider RAK as the most cost-effective destination to do business.

“We have straightforward incorporation processes, least conversion cost, excellent logistics, tax-free environment and offer a productive and cost-effective work force. We are also ideally located between the markets of Europe and Asia with excellent air and sea transportation options,” Dr Massaad added.   

“Through our agreement with the EIU we now have a solid basis from which to build a focused marketing communications platform from which we are certain to engage and inspire senior executives and corporate leaders of major global industries.”  

Paris will be the first venue with the inaugural forum slated for the last quarter of the year and will be part of a wider, integrated programme of business development aimed at bringing international attention and understanding to this rapidly evolving investment opportunity in the UAE. 

The "invitation-only" forums will offer a robust agenda of business strategy issues, trends and forecasts, latest developments in best practice and case studies from companies already operating within RAK. – TradeArabia News Service