The IDO is the central office of the Government of Ras Al Khaimah, and is empowered by His Highness Sheikh Saud bin Saqr Al Qasimi, Ruler of Ras Al Khaimah, to help drive the Emirate’s economic, social and cultural development to ensure a secure and stable future for its residents.
Ras Al Khaimah benefits from a fully diversified economy, with its GDP being delivered across a varied number of different sectors including hydrocarbons, manufacturing, logistics and mining. Ras Al Khaimah domiciled companies also comprise almost a quarter of the listed companies on the Abu Dhabi stock exchange.
In particular, the IDO
· Implements the Government’s economic policies with a focus on sustainable development.
· Is responsible for and has oversight over all strategic investment into Ras Al Khaimah.
· Manages the Government’s balance sheet and rating.
· Acts as a financial and investment advisor to the Government and provides treasury management, corporate finance, investment analysis, structuring and legal advice to Government entities and companies.
· Is responsible for the compilation of consolidated Government accounts on a quarterly basis.
· Manages a centralized debt policy, whereby both Sovereign level and subsidiary level debt obligations are managed and controlled centrally through the IDO.