Ras Al Khaimah: As part of the ‘We the UAE 2031‘ vision, Ras Al Khaimah is developing more development plans through the non-oil economic sector. Economic development in the emirate will be facilitated through manufacturing, export, logistics, tourism and construction industries. According to new figures released by the Ras Al Khaimah Chamber of Commerce and Industry, there has been an increase in exports in the first nine months of this year. It is estimated that the export of about 760 crore dirhams was done.
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As a result, the Emirate’s economy flourished, and the Middle East, Asia,
It has also been able to expand trade partnerships with markets in Europe and Africa. The highest increase in working capital occurred in the third quarter of this year. Ras Al Khaimah has also seen significant growth in the manufacturing industry. As part of international trade and customs clearance, the Chamber of Commerce has issued 9,467 Certificates of Origin (CO) in the third quarter of this year. Saudi Arabia is leading in Ras Al Khaimah imports. Next door are Oman and Kuwait. Ras Al Khaimah is activating the local markets according to the needs of the people. Countries like Qatar, Bahrain and Egypt are also finding more export markets. Ras Al Khaimah Chamber of Commerce and Industry Chairman Mohammed Musbeh Al Nuaimi said the aim is to attract foreign investment and enable long-term economic development by strengthening the community. Human capital, infrastructure and institutions attract foreign investment in the emirate. Al Nuaimi said that this has helped the financial system to adapt to global changes. Along with this, advanced technologies have also helped in the development of industries. Ras Al Khaimah Free Zones also bolster the emirate’s industrial and commercial sectors. A total of Dh56.7 crore worth of trade has taken place this year from free zones to other regional markets of the country. Rami Jallad, CEO of Ras al-Khaimah Economic Zone, said that the emirate has ensured legal facilities, excellent infrastructure and investor-friendly services for industrial and commercial development.
In the tourism sector, 12.8 lakh guests visited hotels in the emirate last year. This is a growth of 5.1 percent compared to 2023. Ras Al Khaimah currently has around 8,300 hotel rooms as part of its long-term goals. Another 9,300 new rooms will be added by next year. This will increase the number of visitors by increasing the capacity of the accommodation facilities. Along with tourism, the business tourism sector will also be nurtured. There are also plans to build more than a thousand hotel rooms in 2030. Residential unit expansion is also underway in the emirate. 16 new projects are expected to be launched by 2029, providing around 5,600 units. Ras Al Khaimah aims to attract 35 lakh tourists annually by 2030.
Content Highlights: ras al khaima development
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