rak ruler gdp will grow 8 this year
Last Updated : GMT 16:22:18
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.”

arabstoday
arabstoday

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*

rak ruler gdp will grow 8 this year rak ruler gdp will grow 8 this year

 



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*

rak ruler gdp will grow 8 this year rak ruler gdp will grow 8 this year

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Prince's vision spurs new Cornwall village

GMT 03:12 2017 Saturday ,18 November

Prince's vision spurs new Cornwall village
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today Israel ready to cooperate with Saudi

GMT 06:31 2017 Friday ,17 November

Israel ready to cooperate with Saudi
Arab Today, arab today Airbnb raided by Japan

GMT 01:55 2017 Saturday ,18 November

Airbnb raided by Japan
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Tesla unveils its all-electric semi truck

GMT 02:59 2017 Saturday ,18 November

Tesla unveils its all-electric semi truck
Arab Today, arab today Baidu speeds up AI progress

GMT 11:46 2017 Friday ,17 November

Baidu speeds up AI progress
Arab Today, arab today Hanan Metawe denies apology for “Major Treason”

GMT 12:22 2017 Thursday ,16 November

Hanan Metawe denies apology for “Major Treason”
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 08:06 2017 Wednesday ,15 November

Ayten Amer happy for “The Flood” success

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 06:13 2017 Friday ,17 November

Pope denounces healthcare inequality

GMT 05:18 2017 Thursday ,16 November

Boeing announces $27bn from flydubai

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
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