THE DEPARTMENT OF ECONOMIC DEVELOPMENT AND RAS AL KHAIMAH MEDIA OFFICE SIGN MOUS WITH TBY

Ras Al Khaimah, February 7, 2018—The public- and private-sector strategies and projects underway in Ras Al Khaimah that showcase its attractiveness to foreign investors will be discussed in a macroeconomic sectoral study in the upcoming edition on the Emirate from global publishing firm TBY.

The Business Year: Ras Al Khaimah 2018 will look at Ras Al Khaimah's commitment to becoming a knowledge-based economy, its appeal as a safe environment to do business in a region of turmoil, and as a stepping stone to wider markets. This has been prompted by the vision of HH Sheikh Saud bin Saqr Al Qasimi, Member of the Federal Supreme Council and Ruler of Ras Al Khaimah, which focusses on diversifying the Emirate's economy toward industry, simplifying the business environment, and increasing the potential for tourism.

The RAK Department of Economic Development (RAK DED) and the RAK Media Office signed an MoU with TBY for the firm's 2018 publication on the Emirate. Under the MoU, the organizations reinforce their ongoing cooperation with TBY to compile and produce The Business Year: Ras Al Khaimah 2018.

Dr. Abdulrahman Al-Shayeb Al-Naqbi, Director-General of Ras Al Khaimah Department of Economic Development, is pleased to continue building the relationship and collaborating with TBY.

“Our partnership with TBY will let us understand the market conditions so we can improve our assistance to businesses looking to get into RAK," he said. “Our research with TBY will focus on the entire economic spectrum and sectors, including efforts made to incentivise investment and further ease the process of doing business in RAK."

Martin Norris, Director of Communications at the RAK Media Office, welcomed TBY's efforts to promote the investment scenario in the Emirate.

“We are pleased to continue working with TBY in communicating the business opportunities in a market that ratings agencies have recorded as stable in economic outlook since they started evaluating the Emirate 10 years ago."
José Ignacio Alegre Yunes, TBY's Country Editor in Ras Al Khaimah, said the contribution from both partners is well received given the rising number of investment opportunities within the Emirate.

“Our reinforced partnership allows us to further understand the foreign direct investment path in the Emirate and communicate how the business environment and the regulations are shaping up in parallel to this," he said. “The Business Year's collaboration with RAK DED and RAK Media Office strengthens our commitment to provide valuable understanding on the Emirate's economic strategy."

The Business Year: Ras Al Khaimah 2018 will be a fundamental guide to the investment scenario of the Emirate, including industry, transport, real estate, and tourism, among developments in other sectors. The publication will contain interviews with the key business leaders and representatives as well as reviews on every sector. The publication will be available in print and online.