RAK DED issues 484 new licences in Q1 2021

RAS AL KHAIMAH, The Department of Economic Development (DED) in Ras Al Khaimah issued 484 new licences in the first quarter of 2021, a 35 percent increase compared to the same period in 2020.

The issuance of the licences also signalled the start of the recovery period from the negative repercussions of the COVID-19 pandemic on the emirate’s economic performance.

Moza Al Shemeili, Director of Commercial Affairs at DED, stated that commercial licences accounted for the largest share of the total, amounting to 267 or 55 percent, followed by professional licences numbering 209 or 43 percent, and industrial licences that accounted for two percent of the total.

In terms of legal structure, individual establishments accounted for 55.2 percent of issued licences, followed by service agents with 25 percent and limited liability companies with 13 percent while Alghad licences accounted for 70 new licences and virtual merchant licences for 12.

Source: Emirates News Agency