In the first half of 2025, Ras Al Khaimah (RAK) has showcased a robust and dynamic economic landscape, as evidenced by a comprehensive report from the Department of Economic Development (RAK DED). This report reveals a striking 14.5% increase in the total licensed capital of active business licenses registered with the department, culminating in a total of Dhs10.2 billion. This significant uptick not only highlights the region’s thriving business environment but also underscores its resilience amidst a constantly evolving economic landscape.
The economic impetus in Ras Al Khaimah is further illustrated by a 6% growth in the total number of active licenses compared to the same period last year. As regional economies grapple with various challenges, this growth indicates a strong recovery and a flourishing entrepreneurial spirit within the emirate. Notably, the report points out that industrial licenses have experienced the most substantial growth, rising by 14.3%. This is followed closely by a 6% increase in professional licenses and a 5% uptick in commercial licenses. Such diversified growth across different sectors suggests a balanced economic expansion which is crucial for sustaining long-term stability and development.
Amina Qahtan, the Director of the Department of Commercial Affairs, emphasized that these impressive results are a testament to the sustained momentum of the economy in Ras Al Khaimah. She attributed this positive performance to the supportive initiatives spearheaded by the emirate’s leadership and the implementation of strategic measures aimed at enhancing business resilience. Underlining the significance of these efforts, Qahtan remarked that the fostering of a conducive business climate has played a pivotal role in attracting both local and foreign investors.
Delving deeper into the specifics of new business activity, the report indicated an impressive 17.6% increase in the issuance of new licenses during the first half of the year. Industrial licenses led this surge with a remarkable rise of 111%, denoting a strong inclination towards manufacturing and industry. This boom is essential as it not only creates job opportunities but also establishes Ras Al Khaimah as a potential industrial hub within the region. Complementing this, commercial licenses increased by 12.6%, while there was a pronounced 20% rise in professional licenses, further highlighting the diversity of economic activities taking root in the emirate.
In terms of financial growth, the total licensed capital of new businesses saw a commendable increase of 7.5%, reaching Dhs495 million, compared to Dhs460 million during the same period in 2024. This growth trajectory is particularly significant as it reflects the increasing confidence of entrepreneurs in the market. Breaking it down by category, capital associated with professional licenses rose by an impressive 40%, showcasing a heightened interest in consultancy and service-oriented businesses. On a larger scale, the capital linked to industrial licenses multiplied by 6.7 times, soaring to Dhs47.5 million. Such figures denote not only growth but a significant investment in the emirate’s production capabilities.
As Ras Al Khaimah forges its path in the competitive landscape of the UAE, these figures present a strong narrative of resilience, innovation, and growth. The emirate’s leadership continues to prioritize initiatives that enhance the business ecosystem, ensuring that it remains attractive to both national and international investors.
Moreover, these developments are emblematic of the broader economic diversification efforts underway within the UAE. As part of the nation’s Vision 2021, there is a concerted push to move away from oil dependency and foster a more varied economic base. Ras Al Khaimah’s burgeoning industries contribute significantly to this overarching goal, positioning the emirate as a player in the global economic arena.
In summary, the first half of 2025 has been marked by a notable increase in business dynamism within Ras Al Khaimah. The reported growth in licensed capital and new business formations not only reflects the emirate’s economic resilience but also its commitment to nurturing a diverse and sustainable business environment. With steadfast leadership and a favorable investment climate, Ras Al Khaimah is poised to continue its upward trajectory in the years to come.
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