Industry & Retail
From The Report: Ras Al Khaimah 2013
View in Online Reader

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.

Articles from this Chapter

Overview

20-20 vision: The government seeks a balanced and diversified economy
OBG
plus

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 targeting specific industries, such as vehicle assembly, electrical equipment and downstream plastics. Developing a greater number of focus areas is a…

Analysis

Future innovation: Creating a centre for research and high-tech production
OBG
plus

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 remain confident that the emirate’s essential foreign-investment proposition – an enabling, low-cost and tax-free environment centrally located for…

Interview

OBG talks to Sanjay Hinduja, Chairman, Gulf Oil International
OBG
plus

Interview:Sanjay Hinduja Compared to other countries in the region, what are Ras Al Khaimah’s competitive advantages, as a manufacturing location for lubricants? SANJAYHINDUJA: RAK’s greatest competitive advantage is the efficient decision-making mechanism it has in place. Additionally, the local authorities understand the needs of entrepreneurs who want to invest in the emirate. This includes things like allowing for affordable worker accommodations – for example – which is…

Interview

OBG talks to Yousef Obaid bin Easa Al Neaimi, Chairman, Ras Al Khaimah Chamber of Commerce & Industry
OBG
plus

Interview:Yousef Obaid bin Easa Al Neaimi To what extent can public-private partnerships (PPPs) offer a useful model for future investments? YOUSEF OBAID BIN EASAAL NEAIMI: The PPP model will continue to prove useful for future investments, as the government has taken resolute steps to address concerns regarding the supply of energy for local industries. Through each of the free zones in RAK the PPP set up is an attractive option for investors. On the one hand, investments for heavy…

Analysis

Building blocks: Many key industries are pursuing downstream efforts
OBG
plus

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. However, attention is turning to the development of value-added products and processes that can build on these core industries. Chief Strengths In the…

Overview

A time to buy: Niche segments have grabbed the attention of mall developers
OBG
plus

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. Room To Let Gross leasable area in the emirate may rise to almost 200,000 sq metres by 2015, according to a report by Cushman & Wakefield, the global real estate services firm. That would be more than…