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|13 May, 2019

Ajman records 18% growth in new business licenses

The DED attributes this increase to the robust local economy

Image used for illustrative purpose. Emirate of Ajman is the smallest of the emirates by area. it is famous for beautiful beaches and lovely food .the city is growing day by day and development and growth on the higher side .city is full of sun shines most of the year .

Image used for illustrative purpose. Emirate of Ajman is the smallest of the emirates by area. it is famous for beautiful beaches and lovely food .the city is growing day by day and development and growth on the higher side .city is full of sun shines most of the year .

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The issuance of new business licences in Ajman saw an 18 per cent increase in 2018 compared to 2017, new data by the Ajman DED has shown.

The number of new licenses and renewed licenses have increased to 4,831 and 25,499, respectively. The DED attributes this increase to the robust local economy and investment environment attractiveness, as well as the several facilities provided by Ajman Government to investors and incentives awarded at local level, affirming its optimism that this positive growth would be maintained during 2019.

Ali Eissa Alnuaimi, the DED director general, said: "The increase of movement of business licenses by 18 per cent during 2018 proves the robust economy of the UAE in general, and the emirate of Ajman in particular. The local business environment has the capacity to attract investment due to the integrated legislative system that guarantees the rights of all parties, the easy government process, the adoption of the modern digital services which adapt to customer expectations, in addition to the availability of purchasing power factor and diverse investment opportunities, contributing to the strengthening of market recovery and high demand for all activities."

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Alnuaimi added: "The DED always seeks to enhance the position of Ajman as an important destination for investment and business, through its endeavors to develop the economic performance and the provision of the best services to investors, in coordination with different government entities under the umbrella of 2021 Ajman Vision. The DED keeps pace with Ajman economic aspirations through its strategic vision towards a diversified and sustainable competitive economy based on knowledge and innovation by 2021, and through its strategic goals to support economic growth and encourage investment, develop the business conduct environment, promote commercial control and consumer protection."

Most economic activities witnessed a high investor turn-out. However, buildings maintenance activity ranked first with 1,137 new licenses issued in 2018, marking an increase of 60 per cent as compared to 2017, followed by exterior cleaning services activity which witnesses an eight times increase with 189 new licenses, as compared to 21 licenses during 2017. Interior design activity ranked third with 157 licenses, marking an increase of 59 per cent, compared to 2017.

Masfout and Al Manama witnessed an increase in new licenses during 2018. Over 123 new licenses were issued in Masfout, marking an increase of 18 per cent, while 84 new licenses were issued in Al Manama with 2.5 per cent growth, compared to 2017. As for the most activities in the renewed licenses, buildings maintenance activity ranked first, with 2244 licenses during 2018, followed by buildings projects contracting activity with 810 licenses, and then women tailoring with 798 licenses.

On the other hand, a total of 52,739 economic permits were released during 2018, marking an increase of 19 per cent, compared to the previous year. Such permits include the trade name boards, economic establishment billboards, permits for product distributions and promotional campaigns.

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