The Economic Development Department of Ras Al Khaimah (RAK DED) has allotted 873 new licenses worth $39.48 million in the first half of 2022, a five percent jump from the previous year.
Of the total licenses, the number of commercial licenses were 449, representing 51.4 percent, followed by professional licenses numbering 406, along with 17 industrial licenses.
The department’s report highlighted the fact that professional licenses accounted for 49 percent of total numbering 8,986, followed by commercial licenses, which accounted for 48 percent at 8,8829, then by industrial licenses.
The total number of renewed licenses in the first half of 2022 was 6,947, compared to 6,606 during the same period in 2021, a rise of 5.2 percent while the number of cancelled licenses decreased by 11.3 percent to 469, compared to 529 in the first half of 2021.