17/02/2009 -
RAK to grow 10%

Ras Al Khaimah's gross domestic product will grow by ten per cent in 2009, one expert surmises.

Speaking to Emirates Business, Hassan Hamdan Al Alkim, director general of the Ras Al Khaimah government's economic development department, said that the northern emirate is enjoying the results of a sustainable and pragmatic approach to growth and will continue to do so over the coming year.

"Industrialisation is the main pillar of our economic development even though it is something many economies have abandoned in favour of alternatives that would provide quick returns," he commented.

One of the organisations that has been instrumental in nurturing this growth is the Ras Al Khaimah Free Trade Zone Authority, which has announced a number of large development programmes in recent months.

So too, Mr Alkim held high praise for the work done by RAK Ceramics and the pharmaceuticals firm Julphar, while dramatic progress has also been made in promoting tourism in the northern emirate.

The strong economic base may prove alluring to those who are looking for property in Ras Al Khaimah.

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