Achievements As Crown Prince
Sheikh Saud has implemented vast organizational and economic reforms that have transformed RAK into an attractive destination for foreign investment – culminating in an A rating in January 2008 by Standard & Poor's and Fitch.
Drawing from the experience of his private sector successes, such as the rejuvenation of Gulf Pharmaceutical Industries (Julphar) 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. Soon after Sheikh Saud's accession as Crown Prince, RAK Government asked the World Bank to conduct a study on the foreign investment avenues available to the emirate and has formulated a comprehensive master plan for development. In 2005, the RAK Government and World Bank organised a conference called ‘Live and Invest in Ras Al Khaimah’ to present before investors the vast potential that the emirate holds for investment.
His reform initiatives 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.
Read more about this topic: Saud Bin Saqr Al Qasimi
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