Ras Al Khaimah government has announced the launch of a comprehensive integrated stimulus and incentive package as part of its continuous efforts to help private-sector companies face the challenges presented by Covid-19 pandemic and to ensure continuity of business in all sectors.
This comes following the directions of HH Sheikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah, and follow-up from Sheikh Mohammed bin Saud bin Saqr Al Qasimi, Crown Prince of Ras Al Khaimah, Chairman of the Executive Council and is in line with the ongoing efforts announced by the UAE aimed at easing the financial burden in the emirate
Covering every sector involved in economic activities, including tourism, government services, environment and SMEs, the package was developed in cooperation with all concerned entities, with each entity creating the measurements that suit the nature of the companies they deal with.
This ensures that all companies and organizations benefit from the incentives, especially SMEs, which make up the largest number of companies operating in Ras Al Khaimah and which are the most affected by the current situation, said the statement from Executive Council of Ras Al Khaimah.
The package of initiatives highlights the coordinated approach taken by local government entities and free zones in Ras Al Khaimah to alleviate hardship, including the Municipality Department, Department of Economic Development, Ras Al Khaimah Economic Zone (Rakez), Ras Al Khaimah Chamber of Commerce, Ras Al Khaimah Tourism Development Authority, thez Environment Protection and Development Authority and the General Resources Authority in Ras Al Khaimah.
All the bodies have agreed on three levels of support: payment exemptions, postponement of fees and the provision of consultancy and assistance, said the statement.
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, it added.
Dr Mohamed Abdullatif Khalifa, Council Secretary General, said: "This stimulus package forms part of our commitment to enhancing partnership between the public and private sectors, which is a central pillar in empowering and developing our national economy in the UAE and 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."
The measures taken by the Department of Economic Development in Ras Al Khaimah include extending the license renewal period for 60 days from the date of expiry.
Business tenants exempt from rental fees for 3 months and health card fees reduced Ras Al Khaimah Municipality Department has exempted tenants in markets (owned by the Municipality) from rental fees for three months, including barbershops, beauty salons and shops in Nakheel market.
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. It has also waived permit fees for outdoor area occupancy for roads and public facilities and reduced fees for issuing health insurance cards.