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Georgian Premier visits RAK Investments Authority

posted on 15/02/2008: 737 views


Prime Minister of Georgia, Vladimir Gurgenidze and CEO of Ras Al-Khaimah Investment Authority (RAKIA) Khater Massaad on Thursday discussed ways to boost investment and trade relations.

Gurgenidze who is in the UAE on a current visit said a suitable investment climate helps long-term economic growth in the emirate's RAKIA which is at the forefront of the Ras Al Khaimah Government's initiatives to diversify the economy.

He expressed Georgia's keenness on further promoting relations with Ras Al-Khaima.

For his part, Massaad said the Georgian Premier's visit provides a good opportunity for Georgian investors to set up businesses in the burgeoning emirate.

UAE-based Ras Al Khaimah's (RAK) state-owned real estate development firm Rakeen is involved in several major real estate projects in Georgia, such as the Uptown Tbilisi mixed-used development in Tbilisi, and the Tbilisi Heights - a residential and business complex in Tabaxmella. Rakeen will also undertake the construction of the 400-room Vardzia hotel project and a 900-hectare project close to the Tbilisi International Airport. – Emirates News Agency, WAM

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