Economic Licences In Ajman Surge By 15% Since Start Of 2024

The Department of Economic Development in Ajman (Ajman DED) reported a notable rise in business activities during the first half of 2024. The licence growth rate increased by 15 percent compared to the same period in 2023, totalling 37,755 active licences. This surge highlights the sustainability and dynamism of the business sector in the emirate.

There was also a 5 percent increase in the issuance of new licences, with 3,000 new licences granted during this period. The issuance of new industrial and commercial licences saw a 14 percent rise. The most popular newly licenced activities included the sale of ready-made women's clothing, building maintenance, and restaurants.

In addition to new licences, over 15,000 existing licences were renewed, marking a growth rate of 9 percent. Industrial licences led this renewal activity with a 10 percent rate, followed by professional and commercial licences at 9 percent compared to the previous year. Furthermore, more than 34,000 commercial permits were issued during this timeframe.

Abdullah Ahmed Al Hamrani, Director-General of Ajman DED, commented on these figures: "These figures reflect the remarkable improvement in the business environment in the Emirate of Ajman, which enhances its position as a preferred investment destination for both local and international investors. These results embody the emirate's efforts to facilitate business operations and streamline administrative and legislative procedures."

Al Hamrani further stated, "We are committed to continuing to support and enhance the business environment in the Emirate of Ajman, and to providing promising opportunities for investors and entrepreneurs, to achieving sustainable economic development and reaching new levels of economic prosperity."

This data underscores Ajman's commitment to fostering a favourable business climate that attracts both local and international investments. The emirate's efforts to simplify administrative processes have evidently paid off.

The report from Ajman DED illustrates that industrial licences were at the forefront of renewals with a significant growth rate. This trend indicates robust industrial activity within the emirate.

The increase in licence renewals signifies ongoing confidence among businesses operating in Ajman. It also reflects their willingness to continue their operations within this supportive environment.

The substantial number of commercial permits issued further demonstrates an active commercial sector. This activity is crucial for sustaining economic growth within Ajman.

The overall growth in both new licence issuances and renewals points towards a thriving economic landscape. It showcases Ajman's strategic initiatives aimed at boosting investor confidence and economic stability.

The positive trends reported by Ajman DED highlight the emirate’s successful strategies in enhancing its appeal as an investment hub. These efforts are essential for driving long-term economic prosperity.

With inputs from WAM