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.