RAK Eyes AED50bn FDI in Two Years

RAS AL-KHAIMAH, 14 February 2007 — The UAE’s emirate of Ras Al-Khaimah is eyeing inward investments of AED50 billion ($13.6 billion) in the next two years as part of its ambitious development strategy, the chief of the emirate’s Investment and Development Office (IDO) said. Speaking on the sidelines of the Ras Al-Khaimah 2007 conference, IDO Chief Executive Izzat Dajani said: “The IDO has in the past three years engaged opportunities valued at $6 billion to the emirate. We are looking forward to having an investment profile of AED50 billion in the next couple of years.”