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Ras Al Khaimah Investment Authority (RAKIA) is a United Arab Emirates investment authority in the Emirate of Ras Al Khaimah. It issues licenses to operate within RAKIA owned special economic zones, provides business facilities and warehouses and provides investment funding. RAKIA supports developments that include industrial parks, education, technology, real estate, transportation, manufacturing and energy, as well as offshore operations and other investments.Contrary to popular opinion, RAKIA is not a sovereign wealth fund (SWF) that would rely for example on steady income from oil or gas. Instead, RAKIA is an industrial licensing and promotion agency to attract investments into Ras Al-Khaimah. Funding is derived by the Government of Ras Al Khaimah as the owner or RAKIA by raising funds from financial markets and passing this borrowed money on to RAKIA.
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