The Emirate of Ras Al Khaima has given out 1,749 business licenses in 2021, a thirty-six percent jump over the previous year.
According to the Department of Economic Development of Ras Al-Khaimah, commercial sector licenses increased by 921, accounting for 53 percent of the total issued licenses, an annual growth of 30 percent compared to 2020. It was followed by industrial and professional licenses at annual growth rates of about 47 percent and 46 percent respectively.
The report corroborates the economic resilience cycle in the emirate and drives optimistic forecasts toward the ongoing recovery from the impact of the Covid-19 pandemic nationwide.