The Department of Economic Development in Ajman (DED-Ajman) has released 2,312 new licences during the first half of the year as compared to 2,196 in first half of 2017, marking an increase of 5 per cent.

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 1200per cent, after the issuance of Emiri Decree No. 1 of 2018 by Sheikh Humaid bin Rashid Al Nuaimi, Member of the Supreme Council and Ruler of Ajman to exempt businesses from local fees and fines. Renewed licenses were similar to new licenses at a growth rate of 5 per cent, 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 Sheikh Humaid 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.

“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,” she added. – TradeArabia News Service