The Business Year

The government is working on all cylinders to adopt cutting-edge technologies and implement best practice transparency and governance mechanisms to promote the welfare of citizens and investors alike.

Munther Mohammed bin Shekar

Director General, Municipality Department

Aas Al Khaimah’s main economic driver will be tourism, though there are also several private-public partnerships (PPPs) underway for investment in industry and agriculture. 2018 will see the development of a new industrial city. We have partnered with RAKEZ to manage it because it has experience in running developments such as these. Unlike Dubai or Abu Dhabi, Ras Al Khaimah grew organically. As the city grew, workshops emerged near houses, which led to mixed land use in different areas. That is why the new industrial city plan aims to locate light and medium-light industries in one place. This will free the areas they currently occupy for further development in tourism, housing, or other commercial uses whilst meeting the increased demand for industrial lands. Additional value for the economy will come from a higher focus on energy efficiency. A strategy has been developed toward lower energy intensity of the economy and a higher share of renewables in the energy mix. The strategy comprises nine main programs: green building regulations, building retrofits, energy management, efficient appliances, water reuse and efficient irrigation, outdoor lighting, solar programs, energy from waste, and efficient vehicles. The municipality is driving the strategy with its newly established Energy Efficiency and Renewables office, which collaborates with multiple government stakeholders through a dedicated management committee.

Yousef Ali Mohammed

Acting General Manager, Finance Department

The RAK government is developing the financial framework to enhance and support the sustainable development of the Emirate and public institutions’ financial solidity by drafting new financial laws, unified policies and procedures for governmental entities, and developing better financial planning processes. Shortly after implementing the VAT, we did observe some increases in prices, but the market soon adjusted. We are, however, facing major challenges regarding public understanding of the VAT and unnecessary fears that stem from a lack of tax experience. That said, it will still play a major role in the sustainable development of all aspects of society, the environment, and economy of the country. In order to attract new investment, we are developing a new financial framework that includes unified policies and procedures for governance and transparency that will positively impact our relations with outside investors and increase their trust in RAK’s financial system.

Ahmed Saeed Al Neaimi

General Manager, Ahmed Saeed Al Neaimi

As a key government entity, our primary objective is to ensure that RAK’s society is best served by the various government entities, which includes investors and citizens, in a smart and efficient manner. We do so by collaborating with various other government entities in RAK to understand what our investors and citizens need. These are assessed and analyzed with a scientific and methodical approach by experienced and efficient teams across the board to provide comprehensive and easy-to-use solutions across the spectrum. Today, everything is expected to be just a click away, from envisaging a business opportunity to executing it, and citizens services like applying for permits related to land, building, or utilizing the civic amenities citizen services. Our teams have enabled them with smart and efficient solutions and continue to enhance the citizen experience by adopting the best services and technology. As such, we are always looking for new ways to boost citizen satisfaction in hospitality, tourism, health services, education, aviation, and entertainment. We are also paying close attention to disruptive technologies like blockchain, AI, and the internet of things. While new technologies are tempting because they often promise better solutions and enticing possibilities for business change, more often they promise solutions that support to enable an organization to implement IT without changing its business processes.



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