Tbilisi: 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.
"In spite of dramatic events that took place in August, Rakia has a very optimistic view and continues activities in the country," Zaza Mikadze, general director of RAK Georgia Holding, said.
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