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Ras Al Khaimah Chamber Attracts 1200 New Facilities in 9 Months October 28,2018

RAK Chamber of Commerce and Industry announced that the value of exports by the Chamber members during the first 9 months of 2018 was AED 6 billion.

Iman Al Hayas, Assistant Director-General for Trade Services and Business Development Sector said that during the first 9 months, the Chamber registers 1200 new members and renewed approximately 13000 licenses.

Al Hayas confirmed that  20,364 certificates of origin have been issued by the chamber during the period. KSA came in first with 4,925 certificates, and AED2 billion of goods; followed by Oman, with 1,695 certificates and AED165 million of goods; then Bahrain with 1,309 certificates and AED 131 million of goods; then Kuwait with 1,264 certificates and AED 322 million of goods. 1,140 certificates were issued for the UAE, 1,084 for India, and the rest of the certificates were issued for 144 countries.
The capitals of planned new investments during the first 9 months were AED 1.56 billion, excluding the capitals of 7 facilities, valued at AED 5.35 million, which represent branches of major facilities headquartered outside Ras Al Khaimah, with 187 facilities operating inside the free zone.

Raja Mohamed bin Juma, Acting Director the Department of Studies and Commercial Cooperation explained that the new members were classified based on the capital category. The second category saw the biggest registration at 40% with 485 new facilities;  31% in the third category with 375 facilities; 11% in the first category, with 129 facilities; and 10% at the special category, with 125 new facilities. The Premium category  had 5%, with 57 facilities; while fourth category had 2.3% with 28 new facilities.

she pointed that the privately-held facilities had the largest percentage of the new registered facilities, 46.7% with 560 facilities, followed by limited liability corporations with 26.9%, with 322 facilities; then “Service Agent” Citizen  at 18.8%, with 225 facilities; and civil work companies at 6.8%, with 78 facilities; and 5 single-person companies, 4 public companies, 3 cooperation 1 branch for a foreign company, and 1 government entity.