Business

The Department of Economic Development - Ajman (DED - Ajman) has uploaded a considerable growth in the number of business licenses and permits provided by its Registration and Economic Licensing Division for new economic centers. This was disclosed in the 'Business License Indicator Q1 of 2017' report showing a 7% average increase in the variety of provided licenses in the initial quarter of this year to reach 1,053 compared with 985 released throughout the very same period in 2016.

Authorities data reported an increase in the number of freshly provided industry-level licenses. At a development rate of 37%, an overall of 531 commercial licenses were released during the initial 3 months of 2017, up by 124 licenses from the same duration in 2015. DED- Ajman also reported an amazing 77% development in the number of provided industrial licenses.

Applications for revival of licenses climbed as well. A total of 5,597 licenses were renewed early this year, up by 2,437 licenses from the very first quarter of the previous year at a development price of 77%. The renewal of commercial licenses likewise rose by 74%, with a total of 3,037 business licenses provided compared with 1,748 in 2015. Likewise, the renewal of commercial licenses saw a significant 62% development throughout the very same duration. Renewed professional licenses, said DED-Ajman, reached an overall of 2,377 throughout the first quarter from 1,296 in 2014, or up by 1,081 licenses at 83% growth rate.

H.E. Ali Eissa Al Nuaimi, Director General, DED-Ajman, said: "The high quantity of business licenses issued throughout the initial quarter of 2017 reflects the growing self-confidence of the investment community in Ajman's competitive advantages and appealing financial chances. Ajman is set to become one of one of the most appealing destinations for local and regional financiers. We are committed to supporting the emirate's lasting economic development through our enthusiastic strategies and campaigns focused on boosting the convenience of doing industrial, occupation, and industrial companies below, in addition to developing an attractive investment environment in the location. This remains in line with our vision to construct a diversified competitive economic climate for Ajman's sustainable advancement."

"The recent positive results own us onward to improve the convenience of working below as it is among the strategic concerns and key goals of Ajman Vision 2021, which looks for to develop an affordable economic situation to transform the emirate into a recommended location among local and regional capitalists," H.E. Al Nuaimi added.

According to the World Bank's Ease of Doing Business 2016 Report, Ajman was 35th globally in the ease of doing business and 2nd in the GCC region after Dubai.

• Tags
• #Business
• #Magazine
• #Lifestyle