Ras Al Khaimah Reports 17.6% Increase In New Business Licences During First Half Of Year

The Department of Economic Development (DED) in Ras Al Khaimah reported a 17.6% increase in new business licences for the first half of this year. A total of 1,219 licences were issued, up from 1,037 during the same period last year. This growth highlights the emirate's expanding economic landscape.

Industrial licences experienced the most significant surge, with an increase of approximately 111%. Professional licences followed with a 20% rise, while commercial licences grew by 12.6%. These figures indicate a robust expansion across various sectors within the emirate.

The wholesale and retail trade sector dominated new licence issuances, accounting for 44.4% of the total. The construction sector followed at 18%, while accommodation and food services made up 13.2%. Manufacturing accounted for 11.1%, and other service activities represented 8.6%.

Al Dhait led in new licences geographically, contributing to 8.7% of the total, followed by Al Nakheel at 8.4%. Both Al Qusaidat and Julphar recorded a share of 7.7%. These areas are seeing increased business activity and investment interest.

Khalifa bin Zayed City had the highest ratio of new to active licences at 18.9%, with Dahan following at 13.4%, and Al Ghail at 9.1%. This indicates a vibrant business environment in these regions.

Investment Attraction

Al Jazirah Al Hamra attracted nearly one-third of the total registered capital for new licences, leading all areas in investment attraction. Al Dhait and Al Ghail followed with shares of 13% and 8.5%, respectively.

The report also noted a total registered capital growth of 7.5% during this period. Industrial licence capital saw a remarkable increase, growing by over seven times compared to last year’s first half, while professional licence capital rose by 24.7%.

Amina Qahtan, Director of the Commercial Affairs Department at DED, stated that these positive outcomes reflect Ras Al Khaimah’s dynamic economic path. "The wise leadership’s directives aimed at fostering a more flexible economy," she said, "supported by a range of incentives and facilitative measures that ease doing business and attract investors."

With inputs from WAM