greek business delegation discusses plans with rakia to invest in ras al khaimah’s food and trade sectors
Greek-themed shopping mall also part of investment plan in the emirate
Ras Al Khaimah Investment Authority (RAKIA), the government body responsible for the socio-economic growth of the emirate, has recently received a high-level business delegation from Greece that visited Ras Al Khaimah to explore investment opportunities in the emirate. The delegation, which was taken on a tour of Ras Al Khaimah’s industrial facilities and free zones, expressed their desire to invest in key sectors such as food, hospitality and trade.
The delegation also expressed their interest in building a Greek-themed shopping mall in Ras Al Khaimah, and revealed their plans to facilitate the register of Greek shipping companies with RAKIA. Meanwhile, Ras Al Khaimah Airways have agreed to cooperate with several Greek tour operators to boost air travel between Greece and Ras Al Khaimah.
The visiting delegation was also shown a presentation by Raman Iyer, General Manager of RAKIA, highlighting Ras Al Khaimah’s strategic advantages and business-friendly policies; while Rakeen, the real estate development arm of the Ras Al Khaimah government made a detailed presentation on the upcoming real estate projects in the emirate.
“It was certainly a pleasure to host a high profile business delegation from Greece,” said Raman Iyer. “The UAE and Greece enjoy a flourishing business relationship, and both countries have been extremely receptive to investment opportunities from each other; proof of this is the fact that over the last three years, Greece’s trade figures with the UAE have tripled.”
“We are glad that the delegation was extremely impressed with the infrastructural facilities and business climate in Ras Al Khaimah, which are the main factors that are making the emirate one of the most preferred investment destinations in the region. RAKIA will extend its total cooperation and support to Greek investors who are keen to establish business operations in Ras Al Khaimah,” he added.
Services represent the largest and fastest growing sector of the Greek economy, with trade, banking, insurance, transportation and shipping, communications, healthcare, education and tourism, being the largest service sub-sectors. Greece’s food industry is expanding rapidly to support new markets in neighbouring countries, and its largest export items include fresh and processed fruits and vegetables, olive oil, wheat and tobacco.
RAKIA is at the forefront of the Ras Al Khaimah Government’s initiatives to diversify the economy, and is responsible for promoting the development of the Industrial Zone and the Free Zone in Al Hamra, and the Industrial Park in Al Ghayl. Since its inception two years ago, the Investment Authority has successfully attracted almost USD 2.0 billion worth of investments from all over the world, across a broad range of industrial sectors.
The visiting Greek delegation consisted of Nikitas Dolapsakis, President of Chambers' Group for the Development of Greek Isles & President of Heraklion Chamber of Commerce; Efstathios Mylonas, Member of Board of Zakynthos Chambers' Group for the Development of Greek Isles; Antoniou Aggelos, Member of Board of Professional Chamber of Piraeus; and Ioannis Kalofolias, Member of Board of Cyclades Chamber; among others.
