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July 18, 2017 | 15:15 | Dubai
The Ras Al Khaimah Chamber of Commerce has announced that Chamber membership numbers reached 32,801, and that 10,093 members had renewed their membership by the end of the first half of current year. The number of new private members registered during the first half of current year came to 970, 130 of which were in free zones along with 54 new branches for establishments inside and outside the emirate.
Dr. Ahmed Rashid Al Shemaili, Assistant General Manager Commercial Services and Business Development at Ras Al Khaimah Chamber, said that the results of the first half of 2017 reflect the vision that targets facilitating business for businessmen and investors, as well as enhancing the emirate’s position in providing a supportive environment for economic growth, which showed continued development across various economic sectors.
Raja Mohammed Bin Jumaa, Head of Economic Studies, said that the total number of businesses across the sectors is usually higher than the number of registered establishments due to multiple activities being practiced by some entities. The establishments are categorized into 15 different sectors according to the standard international economic classification. The lion’s share went to the trade and repair services sector which accounted for 44% of Chamber-registered establishments in the first half of this year, with a total of 21,227 establishments.
The construction sector came second in terms of number of licenses, with 9,153 (19%) organisations, followed by the manufacturing sector in third place with a total of 5,778 companies (12%). The real estate, leasing and business services sector came fourth with 3,754 businesses (7.8%), followed by the social and personal works sector with 2,771 (5.8%), the hotel and restaurant sector, with 2,489 (5.2%), and the transport, storage and communications sector with 1,925 (4%) businesses. The remainder were distributed among the other sectors (Health and Social work, Financial Sector, Education, Electricity, Water and Gas, Mining and quarrying, Agriculture, Fisheries and International Organizations and Bodies).
All registered establishments with Ras Al Khaimah Chamber of Commerce before the end of the first half of this year were categorized according to the Chamber’s classification of membership, determined by their capital, as follows: 2,919 (8.9%) of them were listed in the special class, 1,295 (3.9%) in the premium class, 3,558 (10.8%) in the first class and 12,364 (37.7%) in the second class, which accounted for the largest proportion of new establishments. The third class accounted for 11,324 (34.5%) with 1,341 (4.1%) in the fourth class.
Divided by legal status, sole proprietor establishments accounted for the largest proportion of new licenses, with 21,186 licenses – or 64.6% of all those issued – being handed out to sole proprietorships during the first half of 2017.
The number of licenses for limited liability companies totaled 7,671 (23.4%), while 3,178 (9.7%) were issued to local service agents. Partnership companies accounted for 303, civil works companies 247, public joint stock companies, 60 foreign company branches, 52 limited partnership, 16 government institutes, 15 private joint stock companies, 8 “contract” companies and only one joint venture company. 64
Registered establishments were also distributed across different areas of the emirate. The most popular area was the Al Nakheel area, with 7,171 establishments, or 21.9% of all those registered. This was followed by the Ras Al Khaimah area with 4,589 establishments (14%) followed by Al Jazirah Al Hamra 2,285 (7%), Qusaidat 1,849 (5.6%), Maareed 1,575 establishments, Julphar (1,562), Mamourah (1,300), Al Rams (1,227), Al Diqdaqah (872), Al Kharan (855), Al Dahan (786), and Al Ghail (749). The remaining establishments were distributed among various other areas of Ras Al Khaimah, including Al Dhait South, Shamil, Sha’am, Othon, and others.
The estimated size of the labour force during the first half of this year was 2,725, and estimated and planned capital in the new investments amounted to about AED 534 million in the same period. The estimated capital value does not include the capital of 130 free zone establishments and 54 branches of establishments within and outside the emirate.
The number of certificates of origin issued by the Chamber during the first six months of current year amounted to 15,737, with the highest number of certificates of origin being issued in May at 2,954. The total exports of Ras Al Khaimah Chamber of Commerce members reached AED 3.59 billion during the first half of this year.