Mubasher TV
Contact Us Advertising   العربية

RAK licenses rise 29% in Q1

RAK licenses rise 29% in Q1
Photo Credit: Arabianeye-Reuters

United Arab Emirates – Mubasher: The total number of new licences registered with the Economic Development Department in the emirate of Ras Al-Khaimah (RAK) during the first quarter of 2015 rose by 28.6% or 558 licences compared to 434 new licences in the same period in 2014, according to statistics by the department.

New licences included 15 industrial ones, 273 vocational licences and 265 commercial ones, while housing-related project licences reached a total of five.

Ratings agency Standard & Poor’s (S&P) recently gave the emirate a rating of ‘A/A-1’ with a ‘Stable’ outlook.

RAK’s gross domestic product (GDP) reached AED 30.9 billion in 2013, a 28.2% rise compared to AED 24.1 billion in 2012.