RAK Chamber of Commerce registers 1,414 new members

RAS AL-KHAIMAH / WAM

The number of new members registered with Ras Al-Khaimah’s Chamber of Commerce and Industry has risen during the first half of the year, with the chamber attracting 1,414 new establishments from the private sector, an increase of 20.5 percent on the same period last year. Of these, 189 were establishments affiliated with the Free Zones, while 58 were new branches of existing establishments from inside and outside the emirate. 10,423 existing members also renewed their membership during the same period, and the chamber is currently looking to attract more companies from the private sector.
Sole proprietorships accounted for the largest proportion of new licenses, with 624 licenses, or 44 percent of all those issued, being handed out to sole proprietorships during the first half of 2016. The number of licenses for new limited liability companies totaled 287, or 20.3 percent of the total issued, while 488, 34.5 percent, were issued to local service agents. 8 of the new establishments were classified as civil works companies, 6 as private shareholding companies and one as a government institution.
Establishments registered in the first half of 2016 were distributed across different areas of the emirate. The most popular area was the Al Nakheel area, with 340 new establishments, or 24% of all those registered. This was followed by the Ras al-Khaimah area (151 new establishments), Qusaidat (103), Maareed (69), Julphar (68), Al Jazirah Al Hamra (61), Mamourah (53), Rams and Diqdaqah (both 46) and Dahan (42). The remaining establishments were distributed among various other areas of Ras al-Khaimah.