Ras Al Khaimah does not have a Sovereign Wealth Fund (SWF). Instead, the Emirate has an investment arm called the Investment and Development Office (IDO), established by an Emiri Decree in 2004.
The IDO is the government’s investment arm of Ras Al Khaimah and is a pillar of the Emirate’s development and prosperity. It is responsible for identifying attractive investment opportunities and nurturing its portfolio entities to achieve their potential. The IDO’s portfolio spans diverse sectors, including manufacturing, quarrying, tourism, real estate, and healthcare, reflecting the diversity of Ras Al Khaimah’s economy.
Unlike a typical Sovereign Wealth Fund, funded by government surpluses from sources like oil and gas revenue, the IDO operates on a different model. It is not a sovereign wealth fund, but an organization that raises funds through financial markets and commercial operations and channels these resources into investments and development projects in Ras Al Khaimah.
The IDO is guided by core values, including social responsibility, ethical practices, agility, and collaboration, which drive its decision-making and investment approach. As the investment arm of the Ras Al Khaimah government, the IDO plays a crucial role in supporting the Emirate’s continued economic growth and prosperity.