Ras Al-Khaimah: Promising indicators

Standard & Poor’s has affirmed its rating for RAK at A/A-1, saying the northern emirate’s relatively diversified economy should protect it against the regional economic slowdown. With little direct reliance on oil and gas, S&P expects RAK to maintain a fiscal surplus and low debt levels in the years ahead. The economy’s main pillars are supplying materials such as stone, mica, glass and ceramics to infrastructure projects around the GCC; and ports and free trade zones serving the local region and other nearby markets such as India (30% of RAK’s foreign direct investment comes from India).