Emirate of Opportunity – Aired April 2007
What do businessmen look for in an investment destination?
Is it its location?
What about its people?
Can it be found in the country’s reputation?
Or the ideas that it brings to the world?
The emirate of Ras Al Khaimah invites you to look no further.
Ras al Khaimah offers excellent opportunities in diverse areas of its resurgent, upward economy. Ras Al Khaimah is raising its profile as a profitable destination par excellence, with everything to propel any business into over drive. Natural serenity and business dynamism team up like never before to create a perfect place for investment. Join Asia Business Channel as we profile these opportunities in the wild west of the Emirates.
Nestled in the northernmost tip of the United Arab Emirates, Ras al Khaimah boasts an ideal geopolitical location at the approaches of the Arabian Gulf and the Middle East on the crossroads of international maritime.
Considerable efforts are now being made to capitalize on this advantage by attracting new industries and commercial ventures.
Ras al Khaimah’s Crown Prince is His Highness Sheikh Saud Bin Saqr Al Qasimi, the visionary behind the emirate’s sudden success. His Government has embraced the concept of free enterprise as a vehicle for progress and development. Ras al Khaimah is proactive in its approach for attracting foreign investments by creating an incentive based environment and a suitable business climate.
RAK Investment Authority, or RAKIA, was established to ensure that the promise of richer returns is a reality for all investors in Ras Al Khaimah.
Right now an air of optimism and promise hangs over the Emirate as it celebrates its transition from a quiet, sun-drenched city to a sprawling commercial capital. Through ambitious development plans including investments in infrastructure, tourism, and industry, a growth surge is nothing but inevitable.
One of the best things about Ras al Khaimah is the fact that it is well connected internationally. Businesses can draw comfort in having at their disposal a vibrant transport and communications network.
RAK International Airport consists of a main terminal building equipped with the latest in passenger services. The Emirate offers no less than three well-equipped seaports, each with its own features, capabilities and potential.
The Emirate has a burgeoning pool of skilled and motivated multicultural work force available at reasonable costs. The economy is dominated by the services sector which accounts for more than half of its gross domestic product. Asians constitute the largest expatriate group in the emirate.
The United Arab Emirates is one big family of seven brothers, with Ras al Khaimah playing younger brother to emirates such as Dubai and Sharjah and to the biggest of them all, Abu Dhabi. In terms of industry, is there such a thing as sibling rivalry? Let’s talk to two blood brothers, Khaled Abdulla Yousef and Fahem Aal Abdulla.
Ras al Khaimah has an attractive investment environment and a proactive government keen on encouraging industries. Can a small emirate satisfy the demanding needs of the international community?
Ras al Khaimah is building iconic and beautiful properties to rival those of its sibling Emirates’. Asia Business Channel has rounded up a few developments to look out for over the coming years:
Al Hamra Village is an exclusive seaside resort and soon to be the home of the world’s second seven-star hotel.
Julfar Towers, freehold facilities for offices and residences in the heart of Ras al Khaimah’s new town.
RAK Offshore. Destined to become the new hub for the offshore financial operations of the regional business community.
Mina al Arab is an unequalled resort and residential community with lush landscaping and world class amenities.
Marjan Islands. These are the first man-made islands project to be developed in the emirate, redefining the country’s geography in the process.
Between the port and the quarries lie Ras al Khaimah’s cement works, all producing above capacity. Cement companies are practical industries to set up in the emirate because they rely on abundant local raw materials.
Big industry plays a big role in the implementation of Sheikh Saud’s vision. Ceramics, however, have proved to be Ras al Khaimah’s manufacturing glory. In a little over a decade, RAK Ceramics is now the world’s largest ceramics producer, showing to the rest of the world what Ras al Khaimah can do with serious industrial ventures on a global scale.
Ras al Khaimah has an abundance of tourist activities to satisfy everyone, coupled with some of the most breathtaking scenery on the planet.
What are some of the best tourism opportunities in the country? We’ve asked tourists and expatriates alike, and here is Asia Business Channel’s list.
At number five is Quad biking. It is great fun and somewhat chaotic, but it’s unforgettable.
Ras al Khaimah’s deserts are harsher and greener, making dune bashing here a lot more envigorating. Desert safaris make it to number four on our list.
A trip to the emirate would not be complete without a visit to the old parts of the city. Let history present itself before your very eyes.
At number two is the Al Jazeera flying club. You haven’t seen the emirates until you have seen it from the air.
And what tops our list? What else but Ras al Khaimah’s greatest resource: the sun. Spend a day or two in the many relaxing beaches and resorts.
A stable government, attractive business incentives, timeless cultural legacies and the special warmth of Arab hospitality all make up a profitable business equation. And there is no better time to be part of Ras al Khaimah’s future than now.