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800 New Establishments in Ras Al Khaimah in H1 2018 July 26,2018

RAK Chamber of Commerce and Industry (RAKCCI) has reported the registry of 800 new private-sector establishments during the first half of this year, raising the total number of registered entities to 34,452. During the same period, the Chamber issued 13,907 new certificates of origin.
The report said the workforce size in the emirate reached 1,988 workers, while estimated capitals for planned new investments amounted to AED 682 million. This excludes the 113 free-zone establishments and 74 branches of establishments based in and outside of the emirate.

Certificates of Origin
The report said 13,907 new certificates of origin were issued by the Chamber over the first six months of 2018, with May topping the list at 2,380 certificates. This was accompanied by the Chamber attracting 800 new private-sector establishments, including 113 new free-zone establishments and 74 branches of establishments based in and outside of the emirate. In line with the Chamber’s strategy to attract more private-sector companies, the total number reached 34,452 registered entities, while a further 9,139 existing memberships were renewed.

Classes
Memberships by end of the first half were spread through the Chamber’s various membership classes which are categorized by their capital. 3,044 establishments were registered in the special class category, accounting for 8.8% of the total number of entities, while 1,397 (4.1%) were in the premium class. The first-class category included 3,732 establishments (10.8%), while the second-class category was the largest category accounting for 13,086 establishments (38%). The third class accounted for 11,816 establishments (34.3%). Individual establishments accounted for the largest number with 21,944 (63.7%) licenses issued by the end of first half of 2018. In addition, 8,100 (23.5%) licenses were issued for limited liability companies.