Bodies have agreed on three levels of support for payment exemptions, postponement of fees and the provision of consultancy and assistance
The government of Ras Al Khaimah has unveiled an integrated stimulus and incentive package, as part of its efforts to support private-sector companies face the challenges presented by COVID-19.
The stimulus follows 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.
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 creating measurements that suit the nature of the companies they deal with, a statement from the Executive Council of Ras Al Khaimah said.
The statement noted that the package will ensure that all organisations 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.
The initiatives are said to demonstrate 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, the Environment Protection and Development Authority and the General Resources Authority in Ras Al Khaimah.
“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,” said Dr Mohamed Abdullatif Khalifa, Council Secretary General.
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. The reduction also applies to companies in other sectors affected by the crisis, provided they meet the terms and conditions set by the Department of Economic Development in Ras Al Khaimah, the statement added.
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 are said to be exempt from rental fees for three months and health card fees have been reduced.
The Ras Al Khaimah Municipality Department has also exempted tenants in markets (owned by the Municipality) from rental fees for three months, including barbershops, beauty salons and shops in Nakheel market. In addition, it has 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.