Business in Ajman: 15% Licence Growth Signals Economic Strength

Business in Ajman: 15% Licence Growth Signals Economic Strength

By Emirates News Agency, 09 July 2024

The report issued by the Department of Economic Development in Ajman (Ajman DED) recorded a significant growth in business activity during the first half of 2024, where the licence growth rate reached 15 percent compared to the first half of 2023, amounting to 37,755 active licences.

The increase in these indicators confirms the sustainability and vitality of the business sector in the emirate.

The report also indicated a 5 percent growth in the issuance of licences, with a total of 3,000 new licences issued during the first half. The percentage of issuance of new industrial and commercial licences increased by 14 percent.

The top new licenced activities issued by the Department were: the sale of ready-made women's clothing, building maintenance, and restaurants.

The report also showed that more than 15,000 licences were renewed, with a growth rate of 9 percent. Industrial licences led the renewal activity with a rate of 10 percent, followed by professional and commercial licences at 9 percent compared to the same period last year. Additionally, more than 34,000 commercial permits were issued during that period.

On this occasion, Abdullah Ahmed Al Hamrani, Director-General of the Ajman DED, stated, “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 added, "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."

Hazem Hussein / Khoder Nashar

Related Report

Dubai's Venture Capital Ecosystem

There are 749 scale-ups that have raised over US $1 million in fundraising in the Middle East and North Africa region; collectively raising over US $19.5 billion, cumulatively, as of December 2022. Over 40% of these scale-ups call Dubai home.

Subscribe To Our Newsletter

Stay up to date with the latest news, special reports, videos, infobytes, and features on the region's most notable entrepreneurial ecosystems