Easy and fast transportation are crucial assets for the Northern Emirates, which rely on the proximity of more populous Dubai to attract residents and businesses, and whose industrial development depends on the existence of a modern transport infrastructure. Virtually all transportation between members of the United Arab Emirates (UAE) is road-based. The most vital link connecting the Northern Emirates…
The continued growth of the Northern Emirates' industrial sector has shed light on the crucial importance of industrial free zones for economic development in the region. Free zones act as a catalyst for local and foreign investment by offering incentives such as 100% foreign ownership, one-stop locations for paperwork and procedures, exemption from import duties and taxes, full repatriation of capital…
On June 7, Ras al-Khaimah (RAK) will host the Iraq First International Convention for the Development of Small and Medium Enterprises. The event, hosted by Sheikh Saud bin Saqr Al Qasimi, Crown Prince of RAK, is organized by Iraq First, a non-profit organisation set up by Kuwaiti KGL Investments. The goal is to "bring together the provincial governors and entrepreneurs from across Iraq and international…
RAK Airways started operating charter flights from Turkey to Ras al-Khaimah (RAK) on June 23, becoming the United Arab Emirates' fourth airline. But that good news has been mitigated by the announcement of yet another shift at the head of the company, with CEO Kishu Teckchandani, being replaced by company COO Khalid Almeer. RAK Airways has gone through three CEOs in the last 12 months. Teckchandani…
OBG speaks to Khalid Almeer, COO, RAK Airways RAK Airways' first flights have encountered delays. What were the major difficulties you had to overcome? ALMEER: There were some delays, but one must keep in mind that RAK Airways is establishing itself as a regular, full service airline, not as a low-cost carrier. Establishing such an airline is a very complex formula, involving many factors - such as…
Fujairah is continuing to generate a great deal of interest from both international and local investors. Interest and building activity has been focused on transport and energy infrastructure, aiming to capitalise on the emirate's location along the Gulf of Oman. On the transport front, Fujairah International Airport is gearing up for business with the new Kang Pacific Airlines to be based in Fujairah.…
India is emerging as one of the key contributors to the flourishing foreign investment activity in the Northern Emirates. With nearly 1.1bn people in 2006, India, the second-most populous country in the world, boasts the third-largest economy when measured at purchasing power parity exchange rates. Approximately 10,000 Indian firms are currently operating throughout the United Arab Emirates (UAE)…
Ras al-Khaimah is looking to further diversify its growing economy through the Ras al-Khaimah (RAK) Financial City, a massive multi-purpose development, totalling 280,000 sq metres in size. RAK Offshore, located within the financial city, will have a particularly significant impact, as it seeks to capture a portion of the region's growing demand for offshore markets. The financial services sector…
Gulftainer Company, one of the largest port operators in the United Arab Emirates (UAE), recently signed a $1bn joint venture contract with India-based LANCO Infratech Group to partner on a wide variety of port and transportation projects. According to Peter Richards, director and general manager of Gulftainer, the company has been actively pursuing international port management opportunities throughout…
With the largest industrial base of the all the emirates, Ras Al Khaimah has long been considered the workshop of the United Arab Emirates (UAE) and one of the pillars has been the pharmaceutical industry. With billions of dollars of investments being made in recent years, the industry is now rapidly growing into a major player. The pharmaceutical industry in the Middle East is now worth around $8bn,…
