AJMAN, (Pakistan Point News - 09th Jul, 2018) The Department of Economic Development in Ajman, DED-Ajman, recorded an outstanding five percent growth in the number of new and renewed licences during the first quarter of 2018.
The high number of commercial licences issued reflects the confidence of the local, regional and global investment community in Ajman's competitive economic and investment capabilities and is 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 licences released during the first half of the year was up by 5 percent, with a total of 2,312 compared to 2,196 in the first quarter of 2017. The number of professional licences has increased by 19 percent. During the same period, "Bidayat" licences issued for citizens wishing to conduct businesses from their homes have increased by 1,200 percent, after the issuance of Emiri Decree No. 1 of 2018 to exempt businesses from local fees and fines. Renewed licences were similar to new licences at a growth rate of 5 percent, thus increasing the total number.
The number of renewed licences, on the other hand, was also up five percent, 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 issued by 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’ licences increased by 117 percent, followed by professional and industrial licences at 10 percent and 9 percent, 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 licences reflects the success of our continuous efforts to attract direct local and foreign investments to the vital local sectors and specially 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."
