AJMAN: The Department of Economic Development in Ajman (DED-Ajman) recorded an outstanding 5 per cent growth in the number of new and renewed licenses during the first quarter of 2018. The high number of issued commercial licenses reflects the confidence of the local, regional and global investment community in Ajman’s competitive economic and investment capabilities and was the result of intensive efforts to facilitate and create an attractive investment environment to enhance business growth and sustainability in the emirate.
The number of new licenses released during the first half of the year was up by 5 per cent, with a total of 2,312 compared to 2,196 in first quarter of 2017. The number of professional licenses has increased by 19%. During the same period, “Bidayat” licenses issued for citizens desiring to do businesses inside houses have been increased by 1200%, after the issuance of Emiri Decree No. 1 of 2018 Highness (H.H.) Sheikh Humaid bin Rashid Al Nuaimi, Member of the Supreme Council and Ruler of Ajman to exempt businesses from local fees and finesRenewed licenses were similar to new licenses at a growth rate of 5%, increasing the total number.
The number of renewed license, on the other hand, was also up five per cent, with the total of 12,363 released during the first six months of this year as compared to 11,748 during the same period last year. The increase comes in line with the framework of the resolution made by His Highness (H.H.) Sheikh Humaid bin Rashid Al Nuaimi, Member of the Supreme Council and Ruler of Ajman to exempt businesses from local fees and fines. The ‘Bidayat’ licenses increased by 117 per cent, followed by professional and industrial licenses at 10 per cent and 9 per cent, respectively. The results reflect the growing attractiveness and competitiveness of the business environment in Ajman, which today stands out as a promising destination for local and regional investors.
Zahra Al Bannai, Director of Planning and Business Development said: “The increasing number of new and renewed licenses reflects the success of our continuous efforts to attract direct local and foreign investments to the vital local sectors and especially targeted in Ajman’s vision and encourage industrial investments and value added economic activities. Our initiatives are aimed at building a diversified and competitive economy and ensuring sustainable development in line with the wise leadership’s directives. The growth is proof of Ajman’s growing role as an attractive destination for entrepreneurship, which is a key component of economic diversification.”
She added: “The positive performance in the first half of this year reflects departments efforts’ to raise the confidence of the local business environment, supported by qualitative initiatives aimed at developing major economic policies and providing investment and commercial facilities that serve our vision of creating a thriving economy for the welfare of the emirate’s population. The high confidence of investors, owners, and entrepreneurs is pushing us to continue to develop services that will guarantee quick and easy transactions in accordance with the highest standards of accuracy, efficiency and reliability. We also seek to always improve customer experience and bring them happiness, which is part of our strategic priorities and core goals. News Desk