The Middle East

Ras Al Khaimah has made significant progress over the last five years in building the infrastructure and institutions required to anchor a robust health care sector. Both population growth and changes in lifestyle have led to an increase in the demand for and cost of health care services in the emirate. Public facilities are meeting the majority of this rising need, although private service...

With strong industrial growth and demand for electricity on the rise, Ras Al Khaimah’s energy needs are expanding. This is being met by broadening the number of players in the sector. Aside from the Federal Electricity and Water Authority, several international firms have become major players in the emirate’s energy sector. RAK is working to ensure greater energy independence by boosting access...

Taking advantage of the emirate’s strategic location, several projects aimed at improving transport offerings are now under way. Etihad Rail will link the area to Oman, as well as support several key energy and infrastructure projects. RAK International Airport continues to drive growth in the sector, with revenues rising by 31%in early 2013. There are also plans to construct a 32-km ring road...

In many ways Ras Al Khaimah’s construction sector is the backbone of the local economy, with a number of major infrastructure projects enabling development across a range of sectors. The emirate is home to several major building materials producers, and it is well placed to serve the growing GCC market. Local projects such as the development of Al Marjan Island lend further support to the...

As part of its “20-20” strategy, under which no single sector should account for more than 20% of GDP or 20% of the fiscal surplus, the government is working to diversify the local economy. Growth is expected in the industrial sector in line with efforts to expand downstream capacity, extending production across the supply chain. Improvements to electricity capacity are planned as well, which...

Ras Al Khaimah was relatively unaffected by the global financial crisis and is well positioned to benefit from growth in neighbouring emirates and the wider region. Financial services in RAK are dominated by the retail banking segment, but the sector as a whole is likely to benefit from the regional construction projects and infrastructure works designed to keep pace with growing populations and...