Not being a producer of oil, Ras al-Khaimah has focused on developing its industrial sector. Today, the emirate is home to many national institutions, government agencies, and international companies. Ras al-Khaimah's ever-growing business community has been noticed globally, regionally, and nationally. The emirate is rapidly emerging as an investment destination.
Main economic sectors
* Real Estate – numerous residential areas, offices, commercial buildings are constructed in Ras al-Khaimah.
* Tourism – Ras al-Khaimah is becoming a new destination on tourist maps. Ras al-Khaimah is home to five star hotels and beach resorts including Hilton, Rotana or Banyan Tree. It has a number of 4 and 3 star accommodations. In September 2010, first water park Ice Land was opened to offer leisure opportunity for both residents and visitors and more new tourism projects are under construction.
* Building materials – Ras al-Khaimah opened the UAE's first cement company in the early 1970s and is now the UAE's largest producer of cement. In the 1980s, the emirate formed Ras al-Khaimah Ceramics, which has become the world's largest ceramics producer.
*Manufacturing and High-Tech Industry – In the 1980s, the emirate formed Gulf Pharmaceutical Industries (Julphar), the Persian Gulf region's first pharmaceuticals company. Falcon Technologies International (FTI) represents high-tech industry and produces optical storage media (CDR,DVDR, BDR).
* Service sector – recently growing sector with its prominent RAK Bank and RAK Insurance companies.
*Agriculture and Fisheries – in the past, these were the main economy sectors of Ras al-Khaimah. Nowadays they are still significant providing foodstuff not only for the Emirate but for the whole country.
Taxation and companies law
New legislation and regulations favour international
