RAKIA and Department of Economic Development in RAK launch second edition of Global Arab Business Meeting

Press release
Published September 11th, 2011 - 05:42 GMT

Ras Al Khaimah Investment Authority (RAKIA), the government entity responsible for attracting investments to its free zones and industrial zones and providing a complete range of investment solutions to local and foreign investors, and the Ras Al Khaimah Department of Economic Development, has officially launched at a press conference held at Acacia Hotel, Ras Al Khaimah, the second edition of the annual Global Arab Business Meeting (GABM), which will run from October 9 – 10, 2011 at the Al Hamra Convention Centre in Ras Al Khaimah. RAKIA is co-hosting the 2nd GABM with the Ras Al Khaimah Department of Economic Development, while the event is being organised by Horasis, an independent international organisation committed to enacting visions for a sustainable future. 

Being held under the patronage and presence of H.H. Sheikh Saud Bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah, the 2nd GABM will also feature the participation of Sheikha Lubna Bint Khalid Al Qasimi, UAE Minister of Foreign Trade; Mohd Abu-Hammour, Minister of Finance of Jordan; Makhdoom Amin Faheem, Senior Minister of Commerce, Pakistan; and Shri Kamal Nath, Union Cabinet Minister of Urban Development, India. Prominent private sector personalities from different countries are also attending the event. 

Convening over 300 leading personalities from business and government, the 2nd GABM has been regarded as the foremost gathering of top decision makers from the Arab region and the rest of the world, offering an opportunity to meet, explore business prospects and discuss their visions for a sustainable future. The event also serves as a unique platform to highlight the exciting opportunities that have emerged in Ras Al Khaimah as a lucrative investment destination. 

Last year, RAKIA achieved 27 percent increase in the number of licenses compared to 2009 and expects to surpass this number by the end of this year. The licenses were issued to consulting/service companies, trading/general trading businesses, commercial companies, industrial firms and media businesses. 

GABM is designed to further enhance the influx of investors in the emirate by providing a dedicated platform that showcases Ras Al Khaimah’s strategic advantages as an investment haven before an audience of global business and government leaders. 

Alex Thomas, General Manager-Marketing & Promotions, RAKIA, said: "The Global Arab Business Meeting has quickly established itself as a premier gathering of the most influential business personalities in the MENA region and from the rest of the world. This is a very timely initiative as it complements the growing influx of international investments towards the Arab world, capitalising on the region’s huge market potential and strategic location. The Global Arab Business Meeting is in line with RAKIA’s continuing efforts to identify new ways to drive the economic growth of the region, particularly here in Ras Al Khaimah, by creating dedicated platforms that cultivate interaction and cooperation between Arab and international business leaders.” 

Dr. Djamel Bellout, Director Planning & Studies Administration, Ras Al Khaimah Department of Economic Development: “Ras Al Khaimah has emerged as one of the most attractive and lucrative investment destinations in the world and high-profile events such as the Global Arab Business Meeting will certainly help us create greater awareness about the exciting opportunities in the emirate. It has been the thrust of the Ras Al Khaimah Department of Economic Development to host and support such initiatives that encourage more investment and development activities across the emirate. We are therefore pleased to work with RAKIA in organising this event and we hope to collaborate in similar projects that support the economic growth agenda of Ras Al Khaimah.”

Dr. Frank-Jurgen Richter, Chairman, Horasis, said: “The Global Arab Business Meeting is a key platform that will help define the growth agenda of leading Arab businesses and put a spotlight on the new possibilities and exciting opportunities that are now available across the Arab world. The event likewise reaffirms the successful partnership of Horasis and Ras Al Khaimah as we jointly explore new ways to build a more prosperous future for the emirate and the rest of the Arab world. The enthusiastic support that the 2nd GABM has gathered from global business and political leaders strongly indicates that the MENA region is fast emerging as a premier business destination.” 

The Global Arab Business Meeting will also announce the 2011 Arab Business Leaders of the Year, celebrating outstanding entrepreneurs who have been building and leading successful global firms of Arab origin. The event will gather world-renowned keynote speakers who will discuss critical issues affecting economic growth in the region. 

Organisers have also scheduled various activities to showcase the key business, leisure, tourism and lifestyle amenities of Ras Al Khaimah, in addition to various social and networking activities incorporated  in the two-day gathering. 

Since its establishment in 2005, RAKIA has become one of the pillars of the emirate's economic progress, attracting investors from all over the world through Free Zone and Non-Free Zone facilities of RAKIA's Industrial Zone and Free Zone in Al Hamra, and the Industrial Park in Al Ghail.

Background Information

The RAK Investment Authority

RAKEZ is an Authority established to oversee and consolidate the specialised parks and clients of both Ras Al Khaimah Free Trade Zone (RAK FTZ) and RAK Investment Authority (RAKIA). RAKEZ, the world-class economic zone is aimed at offering highly customised facilities and services within an efficient ecosystem in the emirate of Ras Al Khaimah

Department of Economic Development

The Department of Economic Development (DED) is the government body entrusted to set and drive the economic agenda of the emirate of Dubai, UAE. The DED supports the structural transformation of Dubai into a diversified, innovative service-based economy that aims to improve the business environment and accelerate productivity growth.

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