Ras al khaimah: A report issued by the Department of Economic Development (DED) in Ras Al Khaimah revealed a 17.6 percent growth in the number of new business licences issued during the first half of the current year, with a total of 1,219 licences compared to 1,037 licences during the same period last year.

According to Emirates News Agency, industrial licences topped the list of the highest growth rates, recording an increase of approximately 111 percent, followed by professional licences with a growth rate of 20 percent, and commercial licences with 12.6 percent. In the same context, the wholesale and retail trade sector accounted for the largest share of new licences issued in the emirate, representing 44.4 percent of the total, followed by the construction sector at 18 percent.

The accommodation and food services sector came third with 13.2 percent, while the manufacturing sector ranked fourth at 11.1 percent, followed by other service activities at 8.6 percent. According to the economic report, the total registered capital during the first half of the year witnessed a growth of 7.5 percent. The capital of industrial licences witnessed a surge, increasing by 7.6 times compared to the first half of 2024, while the capital of professional licences grew by 24.7 percent.

Geographically, Al Dhait area recorded the highest share of new licences, accounting for 8.7 percent of the total, followed by Al Nakheel with 8.4 percent, and both Al Qusaidat and Julphar with 7.7 percent. In terms of the ratio of new licences to active licences within each area, Khalifa bin Zayed City ranked first with 18.9 percent, followed by Dahan at 13.4 percent, and Al Ghail at 9.1 percent.

Regarding the attraction of new investments, Al Jazirah Al Hamra led all areas, capturing nearly one-third of the total registered capital of new licenses, followed by Al Dhait and Al Ghail with 13 percent and 8.5 percent, respectively. Amina Qahtan, Director of the Commercial Affairs Department at the Department of Economic Development, stated that the positive results reflect the emirate’s growing economic trajectory. She attributed this growth to the leadership’s directives aimed at fostering a more flexible economy, supported by incentives and measures that ease doing business and attract investors.