Post by : Maya Rahman

Ras Al Khaimah is dedicating efforts to cultivate a balanced and sustainable economic framework by bolstering production, exports, logistics, tourism, and manufacturing. This strategy not only contributes to reducing oil dependency but also adheres to the UAE 2031 vision. Recent statistics demonstrate that this approach is yielding favorable outcomes across various vital sectors.

Data from the Ras Al Khaimah Chamber of Commerce and Industry indicates a significant uptick in exports during the first three quarters of 2025. Chamber members reported export values nearing AED 7.6 billion, signifying robust international demand. The third quarter noted peak activity, with over 9,400 certificates of origin issued, reflecting stable production and heightened global interest in Ras Al Khaimah’s offerings.

The leading export destination was Saudi Arabia, followed closely by Oman and Kuwait. Iraq emerged as the fourth-largest market, with Qatar, Bahrain, and Egypt also being notable sectors. This diverse market outreach exemplifies the emirate's expanding trade relationships, thereby lessening its reliance on any single nation.

Officials highlighted that investments in infrastructure, skilled workforce, and adaptive regulations are crucial in attracting foreign investment and establishing a robust industrial sector. Free zones like RAKEZ have significantly contributed by fostering advancements in manufacturing, technology, and clean energy initiatives. Exports from free zones to the local UAE market also show impressive growth.

Moreover, tourism has emerged as a pivotal factor in economic development. Ras Al Khaimah welcomed over 1.28 million hotel guests in 2024, reflecting consistent year-on-year progress. The emirate is set to undergo extensive hotel expansions, with thousands of new rooms slated for the luxury market.

By 2030, Ras Al Khaimah aims to draw 3.5 million visitors annually. Large-scale real estate and hospitality ventures, especially on Al Marjan Island and Jebel Jais, are anticipated to reinforce this objective and bolster the emirate’s status as a regional business and tourism hub.

#Business News #UAE News #Economic News