Ras Al Khaimah Economy: The number of new licenses increased by 17.6 % during the first half

Ras Al Khaimah on July 17 / WAM / A report issued by the Department of Economic Development in Ras Al Khaimah showed a 17.6% growth in the number of new commercial licenses during the first half of this year, bringing the total licenses to 1,219 licenses compared to 1,037 licenses during the same period last year.

Industrial licenses topped the list of the highest growth rates by about 111%, and professional licenses came second with a growth rate of 20%, followed by commercial licenses by 12.6%.

In the same context, the wholesale and retail trade sector acquired the largest share of the new licenses in the emirate, with a rate of 44.4% of the total licenses, followed by the construction sector by 18%.

The Residence and Food Services Services Sector ranked third with 13.2%, while the manufacturing sector ranked fourth by 11.1%, followed by the other service activities sector by 8.6%.

According to the economic report, the total capital registered during the first half of this year witnessed a growth of 7.5%.

The capital of industrial licenses recorded a remarkable leap, as it doubled 7.6 times, compared to the first half of 2024, and the capital of professional licenses witnessed a growth of 24.7%.

At the level of geographical distribution, the Al -Dhay area recorded the highest percentage of the issuance of new licenses, valued at 8.7%of the total licenses, followed by the palm area by 8.4%, then the poems regions and Julphar by 7.7%.

As for the proportion of the new licenses to the total valid licenses in the region, Khalifa bin Zayed came first with 18.9%, followed by the paint area by 13.4%, then Al -Ghail area with 9.1%.

With regard to attracting new investments, the Al -Jazeera Al -Hamra region topped the existing, as it acquired about a third of the registered capital of the new licenses, followed by Al -Dhait and Al -Gleh regions by 13% and 8.5%, respectively.

Amina Qahtan, Director of the Commercial Affairs Department in the Department of Economic Development, stressed that the positive results achieved reflect the growing and active economic path in the Emirate of Ras Al Khaimah, noting that this growth comes as a fruit of the directives of the rational government, and its endeavor towards enhancing the flexibility of the local economy, through a package of facilities that contribute to facilitating business and attracting investors.

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