RAK DED issues 484 new licences in 1st quarter

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 per cent 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 per cent, followed by professional licences numbering 209 or 43 per cent, and industrial licences that accounted for two per cent of the total.

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

Separately, the Ras Al Khaimah Chamber of Commerce and Industry recently discussed, with the Republic of Kosovo, ways of strengthening their economic cooperation, encouraging mutual investments and taking advantage of available opportunities in various economic sectors in both countries.

The discussion took place during a meeting between Mohamed Ali Musabbeh Al Nuaimi, Chairman of the Chamber, and Avni Arifi, Ambassador of Kosovo to the UAE, at the headquarters of the Chamber.