Ras Al Khaimah Chamber of Commerce and Industry has reported that 1,821 new establishments were registered during 2017, raising the total number of members rose to 33,652 by the end of last year, an increase of 6 per cent over 2016.

A total of 247 of the new establishments were in the free trade zones and 119 were new branches of establishments based inside and outside the Emirate. About 19,680 licenses were renewed during 2017.

According to Dr Ahmed Rashid Al Shemaili, assistant general manager, Commercial Services and Business Development at Ras Al Khaimah Chamber, memberships were spread through the Chamber’s various membership grades which are classified by market capitalization.

Memberships of registered establishments were spread as follows: 2,965 establishments were registered in the special grade category, accounting for 8.8 per cent of the total, while 1,351 (4 per cent) were in the excellent grade. The first grade category included 3,646 establishments (10.8 per cent), whereas the second class category was the largest category at 12,765 establishments (37.9 per cent). A further 1,361 establishments (4 per cent) were registered in the fourth grade.

Looking at the legal classifications of the establishments registered with the Chamber, Al Shemaili said that sole proprietorships accounted for the largest number with 21,577 (64.12 per cent of the total) licenses issued by the end of 2017. 7,887 (23.4 per cent) licenses were issued for limited liability companies, 3,349 (9.95 per cent) issued for local service agents, 310 for civil works companies, 307 for partnership companies, 64 for public shareholding companies, 63 for branches of foreign companies, 52 for limited partnership companies, 17 for private shareholding companies, 17 for government institutions, eight registered under ‘contract’, and only one licence issued for a private shareholding company.  

Raja Mohammed Bin Jumaa, head of Economic Studies at Ras Al Khaimah Chamber, said that the total number of establishments registered in all sectors exceeds the overall total number of registered establishments because many establishments are registered for more than one activity and under more than one sector.  She said that memberships are spread across 15 different sectors that are defined according to the International Standard Industrial Classification.

The trading and repairing services sector accounted for the largest share of registered establishments at 21,782 (or 43.9 per cent of the total) at end of 2017. The construction sector ranked second with 9,491 establishments (19 per cent), followed in third place by the manufacturing sector with 5,889 establishments (11.9 per cent).

The real estate, renting, and business services sector came fourth with 3,890 registered establishments (7.8 per cent), followed by social and personal businesses with 2,900 (5.8 per cent), the hotel and restaurant sector with 2,569 (5.2 per cent), and the transport, storage, and communication sector with 1,960 establishments (4 per cent). The remaining establishments are spread amongst a variety of other sectors, respectively health and social work, financial, education, electricity, water and gas, mining and quarrying, agriculture, fisheries, and extra territorial organizations & bodies.

She added that the registered establishments extended throughout Ras Al Khaimah. Most are based in Al Nakheel area which accounts for 7,348(21.8 per cent), followed by Ras Al Khaimah with 4,666 (13.9 per cent), and Al Jazirah Al Hamra totalling2,331 (6.9 per cent).

Al Qusaidat followed with 1,918 establishments (5.7 per cent), then Julfar with 1,608, Meireidh with 1,598, Al Mamourah with 1,326, Al Rams with 1,253, Al Diqdaqah with 895, Al Kharan with 867, Dahan with 814, and Al Ghail with 763. The rest of the registered establishments were spread across other areas of Ras Al Khaimah including Al Dhait Aljanoobi, Shamal, Sha’am, Idhen, and other areas. – TradeArabia News Service