Although the recent global economic downturn affected Ras Al Khaimah’s construction industry, the sector is moving forward and remains a key component of the emirate’s growing economy. While the recession has had an impact, industry players are taking steps to overcome many of these difficulties. Further, the focus on these challenges does not...
As the industrial sector has expanded over the past decade, demand for power and water in Ras Al Khaimah has grown exponentially. Consequently, in recent years RAK, like many of the other Northern Emirates, has experienced sporadic power outages and water shortages. This is an issue in the emirate, as it is home to a number of energy-intensive...
The establishment of free zones – dedicated areas where businesses are exempted from various laws and regulations – has been used in many countries to attract foreign investment, notably in the UAE. The federal system, with its largely decentralised economic decision-making, means that almost all emirates have set up free zones. Ras Al Khaimah is no...
In the Gulf, diversification is the name of the game. Directly or indirectly, the region derives most of its income from hydrocarbons. Given that these resources are finite, governments have long sought to reduce this dependency by promoting growth in non-oil sectors, such as manufacturing, tourism and banking, with varying degrees of success....
Although Ras Al Khaimah’s construction sector has not yet returned to pre-economic downturn levels of growth, local materials firms are mitigating the effects of the altered market using a variety of strategies. Concentrating on core business strengths, entering new markets and working on supplying key projects abroad are some of the methods...
Over the past decade the emirate of Ras Al Khaimah has developed a reputation as an up-and-coming player in the Middle East and further afield. In 2011 RAK’s status continued to grow, despite political volatility elsewhere in the region and ongoing concerns about international financial stability. This is largely the result of a series of...
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