The Middle East Industry

The industrial sector in Ras Al Khaimah (RAK) has continued post significant growth in recent years, thanks to a favourable business environment and prudent regulation.

A major free trade zone (FTZ) in Ras Al Khaimah (RAK) is looking to build on recent growth and expand its base to include new areas of business from an increasingly broad range of countries.

Dubai’s economy is expected to post solid growth in 2012, with the emirate’s manufacturing industry tipped to be one of the key contributors. The rate of growth, however, will likely depend on how international markets withstand the fallout from the European debt crisis and other destabilising factors.

These are exciting times for Turkish car manufacturers, who are riding a wave of growth thanks to a weak lira, increasing investment in research and development (R&D) and foreign firms’ boosting of local production. In a sign of the local industry’s growing maturity, one domestic investment firm is now the frontrunner in the takeover of an ailing European car manufacturer.

Small and medium-sized enterprises (SMEs) play a growing role in RAK’s economy, enjoying government support and benefitting from continued upgrades to the local infrastructure.

With a recent milestone achieved in aluminium production and major expansions planned in the steel sector, Oman is becoming an increasingly prominent player in the global metals industry.