​​The Ras Al Khaimah Department of Economic Development was established by virtue of Emiri Decree No. (11) of 1981. On 1st January 2007, at the approval of H.H. Sheikh Saud Bin Saqr Al Qasimi, the Crown Prince and Deputy Ruler then, the department's name was changed from 'Economic Department' to 'Department of Economic Development' and accordingly, the functions and objectives of the Department of Economic Development were reformulated to be more detailed and comprehensive.