A report issued by the Department of Commercial Affairs at the Department of Economic Development in Ras Al Khaimah revealed that the number of valid licenses in the department reached 17,868 at the end of the first quarter of this year, compared to 17,506 licenses in the first quarter of the previous year, with a growth rate of 2.1%.
Amina Qahtan, Director of the Commercial Affairs Department at the Department of Economic Development in Ras Al Khaimah, explained that the distribution of the valid licenses registered in the department, according to the nature of the economic activity sector, showed that the wholesale and retail trade sector acquired 38.4% of the total valid licenses, followed by the construction sector with a rate of 15.7%, then The manufacturing industries sector comes in third place with a rate of 11.8%, and in the fourth place comes the accommodation and food services sector with a rate of about 10%.
She added that with regard to capital, the total volume of the capital of valid licenses amounted to about 7.6 billion dirhams, commercial licenses constituted the largest percentage of the total capital volume by about 58%, about 4.4 billion dirhams, followed by industrial licenses with a total value of 1.8 billion dirhams, which represents about 24% of the total. New licenses
She indicated that the number of new commercial licenses increased by 1% compared to the same quarter since last year, and the total volume of capital for new licenses issued amounted to 65.1 million dirhams, of which commercial licenses accounted for 73%, then professional licenses by 22%, and the share of industrial licenses reached 5%. of the total capital.
With regard to the net movement of entry and exit of licences, it achieved a growth of 29%. The sectors of information and communications, arts, entertainment and entertainment, and mining and quarrying achieved the highest percentage of net licenses out of the total valid licenses, at rates of 7.7%, 5.7% and 5.3%, respectively.