Friday 17 January 2020
Ras Al Khaimah Department of Economic Development – represented by the Business Development Department- revealed that the total number of the supported business licenses is 309 during the year 2019. The licenses included 160 AL-Ghad licenses -licenses of working from home- 39 Virtual Trader licenses, 12 trade licenses supported by Khalifa Fund for Enterprise Development, and 98 trade licenses supported by RAK SME.
The number of licenses- with their various activities- has witnessed a positive growth of 27% by comparing 264 licenses in 2018 to 309 licenses in 2019, as stated by Mohamed Al-Mahmoud, Deputy Director General of the Department of Economic Development and Director of Business Development Department. This is due to a number of incentives and facilities launched by the Department of Economic Development aiming at promoting household and commercial activities in Ras AL Khaimah. One example of this, is the success of Lamasat Wataniya Exhibition for several consecutive seasons. Consequently, the number of participants and activities kept growing until the exhibition developed and became the “Corniche Festival" in 2019, which was concluded days ago. The Festival included 67 different types of licenses such as AL-Ghad licenses, virtual trader licenses, and a number of commercial licenses issued inside and outside the Emirate.
Al Mahmoud stressed that Ras Al Khaimah supports entrepreneurs by offering 100% fees exemptions for the mentioned licenses in order to enable them to enter the market and develop their investments, which will benefit the entrepreneurs and the business environment and support the economic sustainability.
The total number of AL-Ghad licenses increased from 152 licenses in 2018 to160 licenses in 2019 due to the continuous support provided by the Department of Economic Development to young entrepreneurs, as stated by Saif Al-Suwaidi, Manager of the Economic Promotion Section. The activities of this license varied to include household activities such as traditional foods, perfumes, heritage products, cosmetics, and others.
As for the virtual trader license, Al Suwaidi indicated that it has witnessed a remarkable demand by citizens since the beginning of 2019, which reached to 39 licenses to date, thanks to the incentives launched by the Department of Economic Development at the end of 2018 in order to regulate the practice of e-commerce in the business sector at the Emirate’s level.