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RAS AL KHAIMAH / wam
The Ras Al Khaimah Department of Economic Development (DED) in cooperation with the Federal Competitiveness and Statistics Authority, has completed its annual economic survey and quarterly survey (Q1 2016), which ran from April 10 until June 16.
The surveys involved 1,200 companies across a variety of sectors throughout the emirate, including free zones, and targeted all licensed economic activities operating in Ras al-Khaimah, in line with the international system of industrial classification of economic activities, ISIC4. The survey included companies from various business sectors and industries such as tourism, wholesale, retail, banks, construction, as well as other services that play a primary role in the composition of GDP, investment, employment and national variable indicators that reflect the emirate’s output and investment levels.
Speaking on the report, Dr. Abdulrahman Mohammed Ali Al Shayeb Al Naqbi, RAK DED Director-General, said, “The two surveys’ results increased the emirate’s GDP output, which is expected to break through the AED30 billion barrier in 2015, as they included the free zones, which contributed positively to the survey for the quarter. We are now preparing for the launch of the 2nd quarter 2016 survey, which is expected to start by the end of this week, in order to provide comprehensive information about the economy.”
Dr. Talib Hassan Hayali, Acting Director of Studies and Statistics Department, said, “It is so important that companies provide information during economic surveys, whether they are operating in the free zones or outside, and cooperate with researchers to provide credible and transparent information for them. We assure all companies that this information is confidential and is only used for the purpose of obtaining national GDP, investment, manpower and other numbers. They are used to calculate the GDP and the total numbers, with no individual company details being disclosed. The survey results are essential information for decision and policy makers as well as for the business sector itself. They play a key role in attracting investment to the emirate and to our economic progress, contributing to the development of the UAE economy and increasing its competitiveness at
both regional and international levels.”