Ras Al Khaimah ‘s economy exports 1613 new licenses during 2017

Media In – Ras Al Khaimah 72 March

Dr. Abdul Rahman Al Shaib Al Naqbi, Director General of the Department of Economic Development, Ras Al Khaimah, said that the number of renewals in the department in 2017 amounted to about 15.6 thousand licenses, achieving 2% annual growth rate over the last five years.
Al Nuqbi pointed out that the number of new licenses issued by the department amounted to about 1613 licenses with average annual growth rate of 3.7% over the past five years. These ratios confirm the economic performance of the emirate despite the economic and non-economic developments in the region. Maintain business growth and stabilize economic growth rates at acceptable and sustainable rates.
Al-Naqbi added that the department is constantly strengthening the emirate’s leadership in improving the business environment and competitiveness, and achieving the strategic direction of the country to achieve World Bank standards in facilitating business and starting business in the emirate. To implement the reform and improvement plan based on the results of the World Bank’s 2016 “Ease of Doing Business” report to encourage investors to open new licenses and thereby increase the number of licenses, which will boost the emirate’s business growth index.

For its part, Moza Al-Shamaili, Acting Director of Commercial Affairs, pointed out that 47% of the licenses issued by the Department are in business activities, 48% in professional activities, 4% in industrial activities. Legally, 57% of licenses, and limited liability companies 24%