Ajman records significant business growth in 2024

Ajman has recorded a significant boost in business activity during 2024, highlighted by strong growth in the number of economic licences issued and a substantial rise in the Business Confidence Index (BCI), statistics from the Department of Economic Development in Ajman (Ajman DED) revealed on Monday.

The BCI, which reached 135 points, reflected strong optimism among companies and investors regarding the economic climate and opportunities for growth across various sectors. The real estate sector stood out as the most optimistic and confident industry.

The report further detailed that the Present Situation Index recorded 114.5 points, affirming confidence in Ajman's present economic conditions, while the Future Possibilities Index soared to 155.8 points, highlighting a highly positive outlook on the emirate's economic prospects in the coming years.

The increase coincided with a rise in the number of new and renewed economic licences across various sectors, reflecting the attractiveness of Ajman's business environment. The emirate experienced a 28 per cent growth in industrial licences, 25 per cent in commercial licences, and 9 per cent in professional licences, contributing to an overall 16 per cent increase in licences issued in 2024.

The report also highlighted a surge in licence renewals, with a total of 131,380 renewed licences in 2024, marking a 10 per cent growth compared to 2023. This upward trend underscores the stability of Ajman's investment climate, which has further contributed to a 9 per cent rise in the total number of active licences by the close of 2024.

Saif Ahmed Al Suwaidi, Acting Director-General of Ajman DED, emphasised the results are a direct outcome of Ajman DED's efforts to provide quality services and improve procedures, enabling investors and entrepreneurs to achieve their goals in the emirate.

Al Suwaidi added, "These achievements reflect the vision of Ajman 2030, aimed at achieving sustainable economic development, with a focus on supporting vital sectors and enhancing the entrepreneurship environment."