UAE announces a 25% cut in commercial license fees southward
Sheikh Saud bin Saqr Al Qasimi, the esteemed Ruler of Ras Al Khaimah, has decreed a 25% decrease in commercial licensing fees for all small and medium-sized enterprises (SMEs) situated in the southern regions.
Supporting small and medium enterprises
This strategic move is part of His Highness's continuous oversight of economic sectors in the emirate and aligns with the government's commitment to fostering economic growth across various areas.
Focused Economic Development
The reduction in commercial licensing fees aims to promote economic activities and ensure a more equitable distribution of the benefits of sustainable development across all regions of Ras Al Khaimah. This initiative is in harmony with the broader efforts to support and elevate SMEs, acknowledging their vital role in the economic landscape.
Addressing infrastructure challenges
Additionally, His Highness has directed a 20% reduction in renewal fees for facilities impacted by infrastructure projects on Sheikh Mohammed bin Salem Street. The discount applies to any violations resulting from these projects, encompassing all local government departments, entities, and the Ras Al Khaimah Chamber. Affected entities are granted a two-year window to avail themselves of the fee reduction, offering them flexibility during the period of infrastructure works.
Anticipated Impact on Economic Vitality
This forward-thinking step is anticipated to catalyze growth in real estate, spur investments, enhance residential occupancy rates, and invigorate commercial activities. As Ras Al Khaimah continues to experience notable economic vibrancy, these fee reductions are poised to create a conducive environment for increased business activity.
Southern Regions Inclusion
The support program encompasses various southern regions, including Wadi Kubb, Al-Aim, Azan, Al-Saadi, Umm Arj, Al-Ghail, Asmah, Masafi, Dafta, Al-Ghamra, Wadi Isfni, Asfi, Kadra, Shoka, Al-Ajili, Al-Munaei, Sukhaibar, Wadi Al-Qur, Al-Huwailat, Rafaq, and the blade.
In essence, these directives exemplify a commitment to fostering regional economic development, ensuring that the benefits of progress are widespread and inclusive across Ras Al Khaimah.
