HH Sheikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah, has issued a directive to reduce trade license renewal fees and fines for violations issued by any local entities or departments by 50% for exhibition and events companies in Ras Al Khaimah for a period of 12 months.

 

The initiative is aimed at supporting the Mice (meetings, incentives, conferences and exhibitions) industry in the UAE – a vital economic sector and one that is facing a challenging time due to the current global coronavirus pandemic.

 

The initiative reflects Sheikh Saud’s commitment to continuously monitoring the progress of various vital economic sectors and assisting them where necessary in order to mitigate the economic effects of the pandemic and ensure that the emirate's economy continues to progress and maintain its competitiveness across all areas.

 

Sheikh Saud's directives for the Mice sector are the latest in a series of procedures aimed mainly at reducing the burden on companies and guaranteeing business continuity. 

 

These included exemptions on registration fees for many companies, as well as on license renewal fees. 

 

The incentives covered all business sectors in Ras Al Khaimah, including economic activities, tourism, government services, the environmental sector, small and medium enterprises (SMEs), retail and investments, he stated.

 

Ras Al Khaimah had enacted a set of measures earlier this year to ensure business continuity. The procedures can be classified into three categories: canceling or postponing payments; providing counsel; and offering marketing support according to the business activities of the entity in question, he added.-TradeArabia News Service