Business growth in Ajman uring 2018

12-05-2019 Media in\ Ajman
Business license traffic for the year 2018 in Ajman showed a positive growth in the issuance of new licenses by 18% compared to the previous year according to the announcement of the Department of Economic Development in the Emirate, where the number of new licenses 4831 licenses, while the number of licenses renewed 25499 licenses.
The increase is due to the strength of the local economy and the attractiveness of the investment environment, as well as a number of facilities offered by the emirate’s government to investors and incentives issued at the federal level.
The Director General of the Department said that the high issuance of new licenses in 2018 proves the strength of the economy in the UAE in general and in the Emirate of Ajman in particular .. He pointed out that the local business environment has the ability to attract investment because of the availability of an integrated system of legislation that guarantees the rights of all parties, In addition to the ease of government procedures and the adoption of modern digital services in line with the expectations of customers, in addition to the availability of purchasing power and investment opportunities varied, which contributed to the recovery of markets and high demand for various activities.
He added that the department continuously seeks to enhance Ajman’s position as an important destination for investment and business through its efforts to develop economic performance and provide the best services to investors in a framework of integration with various government entities under Ajman Vision 2021.
He explained that the Department is in line with the economic aspirations of the Emirate through its strategic vision towards a diversified competitive economy based on knowledge and innovation by 2021 and its strategic objectives of supporting economic growth and encouraging investment, developing the business environment and enhancing trade control and consumer protection.
For his part, the Director of the Department of Commercial Registration in the Department said that the Emirate of Ajman witnessed a positive growth in the business movement in 2018 as a result of providing more government facilities to investors. He pointed out that the increase in the issuance of new licenses came as a result of the large increase in professional licenses by 32% .. The increase in licenses renewed as a result of the increase of industrial licenses renewed by 11 per cent and the number of 781 license and the increase of renewing professional licenses by 6 per cent and the number of 11764 license.
He explained that these positive results came as a result of incentives launched at the federal and local levels, including the decision not to increase federal government fees for three years, facilities related to the establishment and ownership of foreign investors, in addition to Decree Law No. 19 of 2018 on foreign direct investment, And global companies by 100 per cent in a number of activities under specific conditions.
He pointed out that at the local level in Ajman, Amiri Decree No. 1 of 2018 concerning the amendment of the services fees of the Department of Economic Development, which exempted the “beginnings” of all local fees, which are issued to citizens to conduct business from home, Amiri Decree No. 16 of 2018 concerning the exemption of the economic establishments in the Emirate of Ajman ending their licenses until 31 December 2017 of local fees and fines. These and other decisions contributed to the promotion of economic activity in the Emirate.
Most of the economic activities witnessed a good turnout of investors during 2018, which was issued by the building maintenance activity with 1137 new licenses with a growth rate of 60% over 2017 followed by the external cleaning services “building facades” in the second place with an eightfold increase to reach 189 new licenses. The third place was the implementation of interior design work “Decoration” with 157 licenses and a growth rate of 59 per cent over 2017. For the most sought after areas in 2018 came in the first place “Al Rawdah 3” with 381 new licenses, Cent of the year 2017 where the area is located on Sheikh Ammar Street Which is linked to Sheikh Mohammed Bin Zayed Road, is witnessing increasing demand from investors. Ajman Industrial Zone II is the second largest number of 315 new licenses with a growth rate of 13 per cent over the previous year. Followed by Al Rawda 2 with a total of 314 licenses and 7 per cent growth over 2017.
In terms of the most demanding activities in the renewed licenses, the building maintenance activity comes in the first place with the number of licenses that have been renewed. In 2006, 2244 licenses were renewed, followed by construction projects with 810 licenses, And sewing women’s clothing with 798 licenses.
On the other hand, the economic permits during the year 2018 increased by 19% compared to the previous year to a total of 52739 economic permits. These include trade name signs, advertising signs for economic establishments, product distribution permits, promotional campaigns and others.
The Department focuses on five main sectors: industry, tourism, logistics, outsourcing, outsourcing and media. This year, the Department continues its efforts to continue its growth and achieve positive results that enhance the economic position of the emirate and contribute to the happiness of society.