Ajman's Business Confidence Index Surges To 135 Points Amid Economic Growth In 2024

Ajman has witnessed a notable increase in business activity throughout 2024. This is evident from the rise in economic licences issued and an impressive boost in the Business Confidence Index (BCI). The Department of Economic Development in Ajman (Ajman DED) reported that the BCI reached 135 points, indicating strong optimism among companies and investors about the economic environment and growth opportunities.

The report highlighted a significant rise in new and renewed economic licences across various sectors, showcasing Ajman's appealing business climate. Industrial licences grew by 28 percent, commercial licences by 25 percent, and professional licences by 9 percent. Overall, there was a 16 percent increase in licences issued during 2024.

The BCI covered both current and future aspects, with the real estate sector emerging as the most optimistic industry. The Present Situation Index recorded 114.5 points, confirming confidence in Ajman's current economic conditions. Meanwhile, the Future Possibilities Index soared to 155.8 points, indicating a highly positive outlook for the emirate's economic prospects.

Licence renewals also saw a surge, with 131,380 renewed licences in 2024, marking a 10 percent growth compared to the previous year. This trend highlights the stability of Ajman's investment climate, contributing to a 9 percent increase in active licences by the end of 2024.

Saif Ahmed Al Suwaidi, Acting Director-General of Ajman DED, stated that these outstanding results stem from Ajman DED's commitment to providing quality services and streamlining procedures. This enables investors and entrepreneurs to achieve their objectives within the emirate.

Al Suwaidi further noted, "These achievements reflect the vision of Ajman 2030, aimed at achieving sustainable economic development, with a focus on supporting vital sectors and enhancing the entrepreneurship environment."

This growth aligns with Ajman's strategic goals for sustainable development by fostering an environment conducive to entrepreneurship. The emirate's focus on improving its business landscape has evidently paid off through increased investor confidence and economic activity.

With inputs from WAM