The UAE is a sanctuary in times of trouble and a partner in boom times, according to Sheikh Saud bin Saqr Al Qasimi, Crown Prince and Deputy Ruler of Ras Al Khaimah.
He told Emirates Business that the current economic downturn actually represented an opportunity, while forecasting that Ras Al Khaimah's gross domestic product would grow by eight per cent in 2009.
Sheikh Saud said tourism and infrastructure projects would drive this growth and mitigate the impact of the construction industry's troubles.
Education would also be a very important vehicle for RAK as it sought to create an environment that generated new ideas for businesses that could be established in RAK and elsewhere in the UAE.
What is your economic forecast for RAK in 2009? Which sectors will contribute to growth?
This year we should have eight per cent growth in GDP. All sectors have done well. Of course in 2009 you will not see growth in the construction sector. But if you look at tourism and all the infrastructural projects, you will see growth across the sectors.
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