Country: United Arab Emirates – Ras Al Khaimah
Established: 2004
US$ Billion: 1.2
Origin: Oil
Summary:
The RAK Investment Authority invests heavily in the local UAE economy.
News and Updates
2/19/2009
RAK will invest $2b in Georgia
Gulf News reports that, “Ras Al Khaimah Investment Authority (Rakia) plans to invest about $2 billion (Dh7.34 billion) in Georgia over the next five years despite the global downturn and Georgia’s war with Russia in 2008, the head of its local unit said. A brief war between Georgia and Russia in August of last year over the break-away region of South Ossetia scared off many potential investors from the country but Rakia, a sovereign wealth fund, says it plans to fully carry out all investment projects.”
read more: Gulf News
5/28/2008
RAK plans $1 billion investment in minerals
According to the RAK site, “Ras Al Khaimah yesterday announced its plan to invest up to $1 billion (Dh3.67bn) this year in the minerals and metals industries through a new company.
The company, RAK Minerals & Metals Investments (RMMI) has been launched under the Ras Al Khaimah Investment Authority (Rakia), the nodal agency that oversees investment activities in the emirate. RMMI will aim to cater to the growing demand for industrial minerals and metal resources for various industries and will identify opportunities in emerging markets such as Africa, Eastern Europe and the Far East, a statement said.”
read more: RAK site
Major Direct Foreign Investments (Private)
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1. All figures quoted are from official sources, or, where the institutions concerned do not issue statistics of their holdings, from other publicly available sources.
Source: http://www.swfinstitute.org