OBG issues The Report: Ras Al Khaimah 2008

Rated as the premier guide for foreign direct investment into Ras Al Khaimah's rapidly transforming economy, it is a vital guide to its many facets, including its macroeconomics, infrastructure, political landscape, banking and sectoral developments, and is considered the most comprehensive intelligence review produced on the country.

Marjan Okhowat, OBG's Country Director, Ras Al Khaimah, said: "Our report comes at a tremendously important time in the development of the emirate.

"We have focused on the drive, led by H.H. Sheikh Saud bin Saqr Al Qasimi, the Crown Prince and Deputy Ruler, to build a diverse economy with strong and sustainable growth, and accelerating the process by attracting domestic and foreign investments.

"The Report: Ras Al Khaimah 2008 presents the new face of the emirate, which is based strongly on the latest developments in science and technology, and its rapidly developing transport infrastructure, with a new airport and port facilities, which will give a considerable boost to trade figures.

"A particularly interesting element is the RAK Centre for Advance Materials (RAK-CAM), fostering a range of applications and technologies which will have a direct impact on the building sector, embracing alternative energy sources, construction materials research, water purification, and environmental preservation."

The Report: Ras Al Khaimah 2008 is published by OBG in strategic partnership with the government of Ras Al Khaimah, Morison Menon as official accountancy partner, and the Bin Shabib & Associates as official legal research partner.

H.H. Sheikh Saud delineates his vision for RAK in an exclusive interview, highlighting the emirate's enterprising approach to business as it develops a range of across-the-board groundbreaking initiatives.

Dr Khatar Maasaad, Adviser to Sheikh Saud and CEO of Ras Al Khaimah Investment Authority (RAKIA), in another exclusive interview, stresses the importance of private sector contributions to the emirate's economic development.

"The private sector has a big role to play in the socio-economic prosperity of the nation, and we have to make sure that it is provided with the appropriate regulatory framework to operate efficiently and productively," he said.

The Report reveals that, according to the emirate's Investment and Development Office, RAK has laid the groundwork to attract Dhs50bn in inward investment in the next few years, with 60% expected to come from lifestyle development and 40% from industrial development.

Professor Anthony K. Cheetham, Chairman of RAK-CAM, says in another exclusive:

"As a world class, state of the art facility, the Centre offers tremendous benefits to all sectors worldwide. These forward-looking goals will be pursued in part by leveraging opportunities for international collaboration. We are hoping to attract 30-40 leading scientists during the next two years to the RAK facility."

The Report also features a series of exclusive interviews with key officials and business leaders conducted by OBG's team of analysts based for six months in RAK, including Sheikh Faisal bin Saqr Al Qasami, Chairman RAK Finance Department, Mohammed Sultan Al Qadi, CEO of RAK Properties, and Peter Sadler, CEO of RAK Petroleum.

Karine Loehman, OBG Regional Director, said: "A successful pro-business climate has been orchestrated in the emirate by the RAK government, backed by an efficient legal and regulatory framework."

Research for The Report: Ras Al Khaimah 2009 is just beginning with a team of OBG professionals led by Country Director Okhawat.

In the coming months this team will focus on the new developments and trends in RAK, still in partnership with the government of the emirate.

Available in print form and online, The Report: Ras Al Khaimah 2008 is part of the range of OBG's publications, which are renowned as leading sources of information for developing and emerging economies around the world.