36% YoY growth in business licenses issued in RAK in 2021
RAS AL KHAIMAH, 11th February, 2022 – Business licenses issued in the Emirate of Ras Al Khaima increased 36% YoY to 1,749 in 2021, according to a report issued by 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, 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.