Ras Al Khaimah to host 33rd America’s Cup in 2010.

Ras Al Khaimah Investment Authority (RAKIA),the government body responsible for attracting and
promoting investment in to the emirate, has announced that Ras Al Khaimah will be hosting the prestigious America’sCup sailing competition in February of 2010, marking the first time that the race will be held in the Middle East.RAK Investment Authority said that the Cup is the first of a series of upcoming prominent events that will reinforce RAK’s emerging status as a leading residential and tourist destination in the region. It added that the trend exposes the Emirate to a global audience of prospective investors and potential industry partners who stand to benefit significantly from the growing local portfolio of prime investment offerings as well as a pro-business environment.
H.H. Sheikh Saud Bin Saqr Al Qasimi, Crown Prince and Deputy Ruler of Ras Al Khaimah, said: “We’ve made
critical improvements to our commercial and economic infra-structure that are paying off in terms of high tourist
footfall and rising numbers of investors and business organisations.We are directing our success towards the events sector as well, with the America’s Cup serving as a centrepiece addition.RAK’s association with prestigious global events will help further enhance its image as a rapidly evolving economy and a highly attractive investment and leisure destination in the Middle East.”

“Ras Al Khaimah continues to enjoy a rapid influx of regional and international investors, thus positioning it to
easily achieve its growth targets. Investors are impressed with the existing infrastructure, world-class facilities and
numerous development projects currently underway. The growing investor confidence in the RAK economy is opening up even more opportunities to extend the Emirate’s economic diversification program into niche areas
such as elite sporting events,” added Dr. Khater Massaad,CEO, RAKIA.Established in 2005, RAKIA is a pillar of the Emirate’s economic progress, generating billions of dollars in annual revenues through groundbreaking investment initiatives within the Emirate and across the international markets.Under RAKIA’s guidance, Ras Al Khaimah has been able to attract over 2,000 local and foreign investors representing over USD 2.3 billion in investments to the Industrial and Free Zones in Al Hamra and the Industrial Park in Al Ghail.

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RAS AL KHAIMAH
UNITED ARAB EMIRATES
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