RAS AL KHAIMAH
Ras Al Khaimah (RAK) is one of the seven emirates that comprise the United Arab Emirates (UAE) along with Abu Dhabi and Dubai. Less than an hour’s drive from Dubai, RAK offers a strategic geographical location that provides easy access to fast-growing markets across the Middle East, Africa, Europe and South Asia. It is also well-positioned to help companies easily take advantage of the trade flows between the East and the West.
The UAE is an island of security in a turbulent region, offering complete personal and investment safety. The continuous political and economic issues as well as uncertainty in many other countries across the Middle East and North Africa have only increased the attractiveness of the UAE and Ras Al Khaimah. When smart investors look for a place to locate their hub and their base, their research leads them to conclude that the UAE is the only credible destination in the region for foreign direct investment.
Ras Al Khaimah’s development as a global manufacturing destination arose from the vision of the leadership. His Highness Sheikh Saud Bin Saqr Al Qasimi, the Ruler of Ras Al Khaimah, recognised that much like Dubai, Ras Al Khaimah has limited oil and gas reserves, and therefore needed to focus on other resources. In RAK, these resources include limestone, rock, and clay, which allowed for the development of the cement, ceramics, manufacturing and building industries.
Today, RAK has the highest level of industrialisation in the UAE, with manufacturing at 26% of the GDP. This includes RAK Ceramics, the world’s largest maker of ceramic tiles; Julphar Pharmaceuticals, the Middle East’s largest pharmaceutical manufacturer; Streit Group, the largest armoured car manufacturer in the world; and several other industry-leading companies. They have contributed to the emirate’s high levels of GDP growth over the last three years, which has been higher than the UAE’s overall growth rate.
RAK’s growing economy has also led to strong diversification across multiple sectors, including not only manufacturing but also services, trading, and tourism. Over the years, the emirate has built a reputation for a business-friendly investment environment and a competitive cost of establishing and operating companies. The cost doing business in RAK is 25 to 50 per cent lower than the UAE average, allowing companies to maximise their return on investment.
RAK is not only an excellent place to do business, but also provides a high standard of living. There are multiple options for a high-quality education for children, five shopping malls, a zoo, and luxurious, seaside villas and flats with some amazing views. RAK provides a calmer, quieter, suburban setting, without the traffic congestion, hustle and bustle of the urban centres.