Looking to support its movement towards the non-oil export market, Oman has built strong economic partnerships. As a member of the World Trade Organisation, the Greater Arab Free Trade Area, the GCC, the Indian Ocean Rim Association (IORA) and the bilateral free trade agreement (FTA) with the US, Oman has developed a robust network that enables...
Food consumption across the GCC region is set to increase by over 3% annually over the next five years, according to a report released by finance house Alpen Capital. In Oman, an expanding youth population, combined with a rise in the number of expatriates and growing disposable incomes, has fuelled the growing demand for protein. While the...
In 2013 Ras Al Khaimah finds itself at a crossroads similar to many other manufacturing-based economies: taking stock of initial successes and contemplating how to add more complex products to the mix. Manufacturing accounts for more than a quarter of RAK’s GDP, and while there is no desire to shift away from the activity, government authorities...
Although Ras Al Khaimah’s economy is increasingly diversified, its roots lie in extracting natural resources for use as construction materials. This remains a core strength of the emirate’s economy and an important driver of future growth, as RAK’s producers will continue to quarry and export products like aggregate, cement and ceramic tiles....
The past few years have seen a major expansion of retail options in Ras Al Khaimah, with new malls, new neighbourhoods and numerous new strategies emerging. The year 2013 was shaping up as a period of consolidation, as major retail developers refine their offerings and fill their space.
Industrial activity has been crucial to Ras Al Khaimah’s economic growth, driven by the government’s policy of attracting firms and investment into the sector based on the natural resources RAK has to offer them. The emirate is now looking to increase growth capacity by removing electricity supply constraints, addressing logistics concerns and...
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