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Number of New Licenses Issued in Ras Al Khaimah Grows 35% in 1st Quarter of 2021

22 April 2021
   

Ras Al Khaimah Department of Economic Development (RAKDED) revealed that the number of new licenses issued in the Emirate in the first quarter of 2021 had grown to 484 – a 35% increase from the same period in 2020. When compared to Q1 2019, the number of new licenses is 4.5% higher, which indicates that recovery from the impact of the COVID-19 pandemic is well underway in Ras Al Khaimah.

Commercial licenses formed the bulk of new licenses issued in Q1 2021, accounting for 55% of them with a total of 267 new commercial licenses, according to RAKDED’s Director of Commercial Affairs Moza Al Shamaili. This was followed by professional licenses, which added up to 209 new licenses – 43% of the total – while industrial licenses made up around 2%.

Al Shamaili went on to explain that individual establishments accounted for 55.2% of the total number of new licenses issued, while 25% went to service agencies and 13% to limited liability companies. Some 70 ‘Alghad Licenses’ were issued, along with 12 Virtual Trader permits.

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