DESIGNED BY ENTREPRENEURS FOR ENTREPRENEURS
RAK OFFSHORE is the result of the extraordinary vision of H.H. Sheikh Saud Bin Saqr Al Qasimi, Council Member and Ruler of Ras Al Khaimah. And that vision has been turned into reality by the CEO of RAK Investment Authority (RAKIA). As successful entrepreneurs themselves, they have an intimate understanding of the needs and requirements of the business world. RAK OFFSHORE offers everything business enterprises need to excel in today’s highly competitive environment.
• H.H. Sheikh Saud bin Saqr Al Qasimi • Mr. Peter-Michael Schuster
H.H. SHEIKH SAUD BIN SAQR AL QASIMI
COUNCIL MEMBER AND RULER OF RAS AL KHAIMAH
An Alumni of Michigan University in the US, from where he graduated in Political Science and Economics, Sheikh Saud’s vision for Ras Al Khaimah is founded on the bedrock of free enterprise, focused on ensuring maximum socio-economic advantages for the people of the Emirate.
Being one of the UAE’s most admired corporate icons, it was under Sheikh Saud’s leadership that RAK Ceramics made its biggest strides to become one of the largest ceramic manufacturers in the world. Another tribute to Sheikh Saud’s corporate stewardship has been Gulf Pharmaceuticals (Julphar), a global pharmaceutical group based in Ras Al Khaimah.
Thanks to Sheikh Saud’s vision, Ras Al Khaimah has witnessed a renewed developmental vigor in the last six years and has transformed itself into the most sought-after destination in the Middle East, with several major tourism
and industrial projects currently underway in the Emirate.
- Completed his higher education in the University of Michigan in USA. And on his return from the US, Sheikh Saud was appointed as Chief of the Ruler’s Court. In 1986 he became the Chairman of Ras Al Khaimah Municipal Council, in which he implemented reforms to improve the governance infrastructure of the Emirate.
- On June 14, 2003, Sheikh Saud was appointed by his father as Crown Prince and Deputy Ruler of Ras Al Khaimah.
- Since his appointment in 2003, Sheikh Saud implemented vast organizational and economic reforms to ensure the success of local businesses while simultaneously attracting a steady flow of foreign investment.
- Drawing from the experience of his private sector successes, such as the rejuvenation of Gulf Pharmaceutical Industries (i.e., Julfar Pharmaceuticals) and the creation of the world’s largest ceramics manufacturer, RAK Ceramics, Sheikh Saud’s economic insight and business savvy have helped bring about unprecedented development and growth across the emirate.
- The effects of his reforms resulted in a dramatic jump of GDP per capita in Ras Al Khaimah from AED 35,000 to AED 52,000 in the years between 2001 and 2006.
- His progressive leadership and keen business acumen has turned around the fortunes of Ras Al Khaimah to make it into a hot investment destination in the region in just six years.
- TIn 2005, Sheikh Saud established the Ras Al Khaimah Investment Authority (RAKIA) to implement and manage Ras Al Khaimah’s vigorous developmental and infrastructural overhaul.
- In January 2008, Standard and Poor and Fitch announced that the Government of Ras Al Khaimah was awarded an A rating, thereby publicly confirming the strong economic position that the Emirate’s government enjoys.
- Sheikh Saud implemented a prompt agenda of reforms during the last six years and improved the investment climate by removing impediments or burdens in the legal, administrative or other levels which act as barriers or diminish the incentive to invest and to do business.
- Sheikh Saud renewed governmental focus to build a diverse economy that enjoys strong and sustainable growth.
- Sheikh Saud revamped thoroughly the legal and regulatory framework to provide clarity, objectivity and transparency to investors.
- Sheikh Saud is well regarded and admired as a hard working, tireless leader dedicated to his ambitious vision of making Ras Al Khaimah a world class destination for investments to create wealth and raise the standards of living.