RAK’s Economic Development Department reports 5% growth in valid licences in H1 2022

The Economic Development Department of Ras Al Khaimah (RAK DED) said that the number of valid licences in the emirate grew by five percent in H1 2022.

According to the state news agency, WAM, the department’s report highlighted the fact that professional licences accounted for 49 percent of total numbering 8,986, followed by commercial licences, which accounted for 48 percent at 8,8829, then by industrial licences.

Mohammed Al Mahmoud, assistant director-general RAK DED, said the department issued 873 new licences in the H1 2022 valued at Dhs145m, of which the number of commercial licences was 449, representing 51.4 percent of total, valued at Dhs91.5m, followed by professional licences numbering 406, which accounted for 46.5 per cent of total, with a value of Dhs41m, along with 17 industrial licences valued at Dhs13m and accounting for nine percent of total.

The total number of renewed licences in the H1 2022 was 6,947, compared to 6,606 during the same period in 2021, a rise of 5.2 per cent while the number of cancelled licences decreased by 11.3 per cent to 469, compared to 529 in H1 2021.