Arab Today, arab today rak ruler gdp will grow 8 this year
Last Updated : GMT 04:42:55
Arab Today, arab today
Arab Today, arab today

RAK ruler: GDP will grow 8% this year

Arab Today, arab today

Arab Today, arab today RAK ruler: GDP will grow 8% this year

Abu Dhabi - Arabstoday

The ruler of Ras Al Khaimah is optimistic about the emirate’s development in 2012, forecasting a GDP growth of 8 percent for the second year running. In an exclusive interview with Arabian Business, His Highness Sheikh Saud Bin Saqr al Qasimi said he is focused on boosting tourism and industry and is expecting more than 1m visitors to Ras Al Khaimah by the end of the year. “I’m optimistic for the future,” Sheikh Saud said. “The growth in GDP for Ras Al Khaimah was 8 percent last year, and I hope we’ll have the same figure this year, if not better. We have also seen a growth in business registration by more than 25 percent. This is an indicator of growth, and I think this figure will stay the same in 2012. “What we are trying to do is focus on our competitive advantage. Tourism plays a major role in our strategy and in the development of our emirate. I am hopeful that we will reach more than 1m visitors in 2012.” He added: “We have also seen a growth in business registration of more than 25 percent. That is an indicator of growth. I think this figure will stay as it is [in 2012].” Ras Al Khaimah has made several moves to boost its economy in recent years, mostly by increasing investment opportunities and tourism offerings. Traditionally reliant on industries such as cement, pharmaceuticals and glass, the northern emirate, whose GDP comprises 1.5 percent of the UAE’s economy, is also keen to diversify. In 2009, the government relaunched its flag carrier RAK Airways, offering cheap flights to countries such as Saudi Arabia and Egypt in a bid to tap the regional travel market. It also established the Ras Al Khaimah Tourism Investment and Development Authority (TIDA) and the Ras Al Khaimah Hospitality Group last year, in an effort to help developers of tourism projects, and manage government leisure assets, respectively. The government has since recorded a 40 percent increase in visitors to the emirate, with more than 800,00 holiday-makers visiting the city last year. Tourism revenues, which soared by more than a third, also topped AED400m (US$108m). Authorities are targeting 1.2m visitors by 2016, and a hotel room inventory of 10,000 rooms. Sheikh Saud said the emirate was also positive about attracting a flurry of new investors in the sector, having recently signed a deal with world-famous Spanish football club Real Madrid to build a US$1bn resort island. “I think the project will boost the image of the emirates - there’s no question about it,” he said. “As for the economy, it will encourage more investors to come and join in with the tourism development, giving us more hotels and other projects. Each investor will define what is feasible, and we will be there to assist them in being successful.” He added that the emirate was continually trying to improve the investment environment by simplifying business processes and bolstering its IT systems. On up and coming infrastructure projects, Sheikh Saud said Ras Al Khaimah was considering plans for the expansion of its airport and looking forward to inter-emirate rail connectivity which would facilitate cargo transport out of the city One project the emirate is not considering, he said, is a metro system like that in Dubai as this is not yet economically viable. “We’re not considering a metro yet, I don’t think it’s required at the moment. “There’s a very efficient network of roads now which allow you to go from one part of the emirate to the other. We are looking at more public transport, but it has to be economically viable. I don’t think a metro is economically viable in RAK today.”

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today rak ruler gdp will grow 8 this year Arab Today, arab today rak ruler gdp will grow 8 this year

 



Arab Today, arab today
Arab Today, arab today Nohan Seyam designs beautiful accessories

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today 11 family members dead in rebel push

GMT 07:57 2017 Tuesday ,21 February

11 family members dead in rebel push
Arab Today, arab today To probe sexual harassment claims

GMT 10:08 2017 Tuesday ,21 February

To probe sexual harassment claims

GMT 14:57 2017 Monday ,20 February

A giant initial public offering on track

GMT 14:50 2017 Monday ,20 February

Energy Market Research

GMT 09:38 2017 Monday ,20 February

Japan returns to trade deficit in January

GMT 07:16 2017 Monday ,20 February

Global arms trade highest since Cold War

GMT 06:10 2017 Monday ,20 February

Tourism shows signs of recovery in Egypt

GMT 05:45 2017 Monday ,20 February

Brexit U-turn ruled out by many in EU
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today 57 monkeys carrying 'invasive' genes

GMT 16:00 2017 Tuesday ,21 February

57 monkeys carrying 'invasive' genes
Arab Today, arab today 63-Year-Old Woman Delivers Baby

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby
Arab Today, arab today Small ponds have outsized impact

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Ahmed Fahmy stresses he did not ignore singing

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed

GMT 12:22 2017 Monday ,20 February

Kanye West puts hijab-wearing model

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 14:51 2017 Monday ,20 February

Ways to acquire presentation skills

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 16:08 2017 Wednesday ,15 February

Shawsh reveals her collection "Jewelry of dreams"
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday