More than 150 global CEOs attended the high-profile business meeting hosted by Ras Al Khaimah Investment Authority (Rakia), a major provider of investment opportunities and one-stop solutions in the emirate.

The meeting discussed the strategic advantages that have enabled Rakia to achieve a record-setting 28 per cent increase in licences issued from January to November this year over the corresponding period in 2009.

Organised under the theme 'Creating Partnership with Rakia', the business meeting also featured independent presentations by Rakia-registered companies about how Ras Al Khaimah can be an important platform to nurture their growth plans in the Middle East.

The business meeting, which was held in collaboration with the CEO Club in Dubai, also had a special presentation from HSBC about banking services being offered to companies that want to establish a business in Ras Al Khaimah.

It was noted during the discussions that there were 1,002 licences issued from January-November 2010, already setting a new record for the most number of licences issued within a year and further highlighting the growing confidence of global investors in the emirate's investment landscape.

The emirate's ruler, Sheikh Saud was responsible for bringing the World Bank to the emirate to conduct studies on how to make Ras Al Khaimah an investor-friendly and efficient business destination, while his move to consolidate the government's balance sheet has enabled the emirate to receive 'A' ratings from S&P and Fitch for the last two years.

'We have organised this business meeting with high-profile CEOs as part of a continuing program to raise awareness about the excellent opportunities that have emerged in Ras Al Khaimah,' stated Dr Khater Massaad, chief executive, Rakia.

Ras Al Khaimah has been recognised as 'The Most Innovative Investment Destination' by the World Finance 2010 Awards. The emirate has also been recognised as “Best Foreign Direct Investment Destination in the Middle East” by the Financial Times Group’s FDI magazine in 2009, and 'Most Cost-Efficient FDI Destination' by Financial Times London in 2007.-TradeArabia News Service