Can you give us your assessment of how the investment sector is performing in Ras Al Khaimah?
The only role MIG can play is by expanding the business carefully and taking advantage of the opportunities that Ras Al Khaimah offers. It has become an extremely touristy destination in the last three to four years, and in 2019 we recorded a great number of tourists. There were many tourists from Russia and other countries that played a big role in the business overall. When it comes to MIG, we need to act now when the opportunities are available. Ras Al Khaimah offers companies the opportunity to survive through the pandemic.
What are your main strategies for promoting Ras Al Khaimah in the next few years?
As an investment company, if someone is looking for an investment opportunity in Ras Al Khaimah or the region and trying to expand the business, we can provide support. The more opportunities the RAK government offers, the more opportunities we have as well.
Can the regulatory framework be improved to further attract investment opportunities?
We currently have a great foundation, though there is room to improve much more in some of the government sectors, especially when it comes to licensing. However, in general I am glad we have a great foundation and base for any start-up or company.
MIG has a presence across the UAE. Do you have any plans for further regional expansion?
Absolutely. It is the vision of any investment company, and we dream of expanding the business. We are fortunate with our project in Ras Al Khaimah. We are looking at expanding this project and exploring new things as well. Currently, we are focusing on Ras Al Khaimah. We have to evaluate the supply and demand and figure out where it is perfect to put our hands on.
What are your goals and expectations for this coming year?
The government and authorities have enacted many rules and regulations post COVID-19, and that is why we had the opportunity to not have to close again. We were extremely careful with the reopenings. We have some great events coming to the region, especially the Dubai Expo in October. We are six months away from this big event. Ras Al Khaimah has the opportunity to host one of the greatest conferences of aviation. We are also trying to play a role in the sports, events, and festivals in Ras Al Khaimah because there is a big gap to play here. We have the mountains that can be a great location for many events and activities. We worked with a company called Highlander, the biggest hiking company in the world, and we would happily support other projects. We are still young in this field. The foundation in Ras Al Khaimah is great, and it offers great opportunities for different investments.