The government of Ras Al Khaimah has issued a directive to boost economic activities and support small and medium enterprises (SMEs) in the southern regions of the emirate. This initiative includes a 25% reduction in commercial licensing fees for SMEs and a two-year, 20% reduction in license renewal fees for businesses affected by ongoing construction on Sheikh Mohammed bin Salem Street. The goal is to enhance the economic landscape, promote real estate, trade, and investment activities, and provide crucial support to smaller enterprises for local economic growth.
These directives are designed to create a business-friendly environment, recognizing the pivotal role of SMEs in driving local economic growth and positioning Ras Al Khaimah as a thriving hub for business and investment in the region. The reduction in licensing fees is expected to provide immediate relief for SMEs and contribute positively to the emirate’s economic resurgence, reflecting the governments dedication to balancing economic growth with the well-being of enterprises.
Interested to explore the thriving economic environment in Ras Al Khaimah and take advantage of this supportive initiative? Drop us an email (office@alphaprimedwc.ae) or give us a call (+97158 515 2374) at any time.
