Ras Al Khaimah government announced the reduction of licensing fees by 25 per cent for all SMEs in the southern regions

For all small and medium-sized businesses (SMEs) in the southern areas, the Ras Al Khaimah government announced on Tuesday that licencing costs will be reduced by 25%. This lower price for business licences has been announced by Ras Al Khaimah's ruler, His Highness Sheikh Saud bin Saqr Al Qasimi, a member of the Supreme Council.

The orders were per the government's efforts to promote and grow economic activity in these areas and to guarantee that sustainable development occurs uniformly throughout the emirate. They also fell within the framework of Sheikh Saud's monitoring of work progress in the emirate's various economic sectors.

The Sheikh Mohammed bin Salem Street infrastructure works have resulted in licence renewal fees for facilities affected by them being reduced by 20 per cent for a period of two years. This reduction applies to all local government departments and bodies as well as the Ras Al Khaimah Chamber of Commerce and Industry.

The move is anticipated to increase commerce, real estate, and investment activity, leveraging the emirate's noteworthy present economic growth.