The Chamber of Commerce and Industry of Ras Al Khaimah is committed to supporting both the private and public sector. Yousef Obaid Al Neaimi, Chairman, explains, “Our primary mission is to invest in our people and in RAK’s business sector. We want to help small, medium and large companies achieve success here, and we aim to provide quality service to the community.”
One of the current goals for the Chamber of Commerce and Industry is to strengthen ties between RAK and the EU. The UAE has already proved its competitive strengths in many sectors, including in the aviation industry, and many EU countries recognise the UAE’s investment potential. RAK’s particular advantages are less well known, however. Yousef Obaid Al Neaimi says, “Awareness of the UAE is high in Germany for Abu Dhabi and Dubai, but not for RAK. We want to change this. We believe RAK has strong investment opportunities for the EU, specifically Germany.”
“RAK’s tourism arrivals are expected to more than double over the next three years.”
Tourism arrivals growing rapidly
RAK’s fast growing tourism industry is a key reason international investors should explore opportunities there. Yousef Obaid Al Neaimi points out, “RAK’s tourism arrivals are expected to more than double over the next three years. In fact, tourism is the best industry to develop in RAK. We really need more international hotels. Ras Al Khaimah has a wonderful climate, mountains, sea, camping, the desert, diving, snorkelling, hot water springs, and an expanding airport. RAK is still authentic as one can see and feel real, traditional culture here.” RAK’s top tourism markets are Germany and Russia, but the emirate aims to promote its tourism attractions worldwide.
Tourism is not the only sector with growth potential in RAK. A range of industrial enterprises are also thriving there, boosted by RAK’s free zones and strategic location. There are several successful foreign investors, while RAK has also attracted FDI to its glass, cement, ceramics and pharmaceuticals industries. Current foreign investors in RAK are from all over the world, including China, Iran, the EU, the UK and India, and many more.
The RAK Chamber of Commerce and Industry welcomes the chance to form productive partnerships with foreign investors. Yousef Obaid Al Neaimi says, “We have many projects on the design table for our future. We want to further work with the private sector to build up all our high potential business activities and to ensure high quality of life for the people of RAK.”
