Ras Al Khaimah launches stimulus package to boost emirate’s economy – Gulf Today

  • Date: 31-May-2020
  • Source: Gulf Today
  • Sector:Economy
  • Country:UAE
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Ras Al Khaimah launches stimulus package to boost emirate’s economy – Gulf Today

One of the most notable incentives introduced by RAK government agencies is a 25% exemption on fees for renewing commercial licenses that were closed as per circulars issued by government agencies, as well as for any sectors affected by the crisis, provided they meet the terms and conditions set by the Department of Economic Development in Ras Al Khaimah.. The current circumstances compel us to act in unison and create practical strategies to deal efficiently with this situation and to prepare ourselves to make the most of available opportunities in the post-Covid-19 period," said Dr Mohamed Abdullatif Khalifa, Secretary General of the Executive Council of the Emirate of Ras Al Khaimah.. It has also exempted advertising companies from rental fees for three months and companies from the monthly installment fees of municipal rental documentation for the commercial sector for one year from the license renewal date.. , fees incurred by industrial establishments that pay less than Dhs50,000 annually will be reduced by 25% for the period April 1 to December 31, while annual fees from industrial establishments that pay more than Dhs50,000 annually to the authority (such as crushers and cement factories) for April 1 to December 31, 2020 will