Industry & Retail

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 promise to benefit local manufacturers and enterprises. Tourism is another area of focus, with plans to leverage the emirate’s natural beauty. This chapter contains interviews with: Sanjay Hinduja, Chairman, Gulf Oil International and Yousef Obaid bin Easa Al Neaimi, Chairman, Ras Al Khaimah Chamber.