800 Industrial Establishments Mark Economic Growth In Ajman By Mid-2024

Sheikh Hamad bin Nasser Al Nuaimi, Director of the Member Affairs Department at the Ajman Chamber of Commerce and Industry (ACCI), reported that ACCI memberships totalled 19,372 in the first half of 2024. Additionally, 22,693 certificates of origin were issued during this period. He praised the economic sector's progress in Ajman and highlighted the leadership's ongoing support.

Sheikh Hamad emphasised that enhancing the competitive business environment and investment climate is central to Ajman Vision 2030. The ACCI aims to foster economic development by encouraging investment, facilitating business operations, boosting trade volume, and supporting entrepreneurship. This aligns with the emirate's strategic goals.

Jamila Kajoor, Director of Member Relations and Support at ACCI, disclosed a 4 percent growth in membership during the first half of this year. Industrial establishments increased to 800 memberships from 770 in the same period last year. This growth underscores Ajman's appeal as a hub for industrial investments and a sustainable environment for industrial enterprises.

Jamila also noted that ACCI strives to expand industrial memberships further. The chamber supports the National Strategy for Industry and Advanced Technology by attracting industrial investments and enhancing national industries' competitiveness. They aim to stimulate innovation and encourage using artificial intelligence to boost production levels and develop local products.

The Director of Member Affairs announced that Iraq and Saudi Arabia were the top export destinations from Ajman in the first half of 2024. Kuwait, Turkey, and Ethiopia followed closely behind. This export activity reflects Ajman's growing trade relationships with these countries.

Sheikh Hamad reiterated that creating a favourable business environment is a priority for ACCI. They focus on developing start-ups and small and medium enterprises (SMEs) to drive economic growth. The chamber's efforts are geared towards achieving Ajman's broader economic objectives.

The ACCI's initiatives align with its mission to support industrial establishments in adopting innovative solutions. By promoting artificial intelligence use, they aim to open new foreign markets for local products. These efforts are part of a broader strategy to enhance production levels within the emirate.

The continuous support from leadership has been instrumental in these developments. Sheikh Hamad acknowledged this support as crucial for maintaining momentum in economic progress within Ajman.

The focus on innovation is evident in ACCI's strategies aimed at stimulating industrial growth. Encouraging businesses to adopt advanced technologies is seen as vital for sustaining long-term economic development in the emirate.

The achievements in membership growth and export activities highlight Ajman's dynamic economic landscape. The emirate continues to attract investments while fostering an environment conducive to business success.

Ajman's strategic vision includes significant emphasis on enhancing its competitive edge in various sectors. The efforts by ACCI are integral to realising this vision through targeted initiatives aimed at boosting trade and industry.

The comprehensive approach taken by ACCI ensures that all aspects of economic development are addressed. From supporting SMEs to encouraging large-scale industrial investments, their initiatives cover a broad spectrum of activities essential for sustained growth.

The data on membership growth and export destinations provides valuable insights into Ajman's economic trajectory. It showcases how strategic planning can lead to tangible outcomes in terms of trade expansion and industrial development.

Overall, these developments reflect a well-coordinated effort by ACCI to align with national strategies while addressing local needs effectively. The focus remains on creating an enabling environment for businesses to thrive within Ajman.

With inputs from WAM