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Ajman issues 1,275 new business licences during Q1 2022

It indicated a 10 per cent year-on-year increase compared to the number of licences issued in Q1 2021

by Gulf Business

May 19, 2022

The Department of Economic Development in Ajman (Ajman DED) has issued 1,275 new business licences during the first quarter (Q1) of this year, an increase of 10 per cent year-on-year.

The figures were shared by way of a report issued by the Commercial Registration and Licencing Sector at the Ajman DED, reported state news agency WAM.

Sheikh Ahmed bin Humaid Al Nuaimi, chairman of the Ajman DED said that the department continues to implement the stimulus packages and decisions approved by the Ajman Government to support the business sectors and individuals across business sectors.

Al Nuaimi added that that the department is working to simplify services and procedures to facilitate business registration and investment procedures, provide greater flexibility to investors, and shorten the business set up period.

Ajman’s economic growth has been highlighted by the release of recent data which showed that Ajman’s tech sector within the Ajman Free Zone grew by 21 per cent last year. The number of tech companies in the integrated business hub reached more than 550 in 2021. The free zone has focused on developing automation programmes to accelerate digital transformation – implementing new initiatives and products like the artificial intelligence robotics hub, a one-stop-shop for entrepreneurs, entities, and SMEs to explore new business opportunities network with industry experts.

Read: Ajman Free Zone’s tech sector records 21% growth in 2021

Overall, the Ajman Free Zone registered a 4 per cent year on year growth in 2021, registering 1,792 new companies. In 2021, AFZ marked a 90 per cent rise in the occupancy rate of its rental units, which extend over 867,000 sq m The free zone’s business facilities include 530 warehouses, more than 7,000 offices, and four business complexes.

The free zone successfully completed 100 per cent automation and digitisation of its services, providing more than 240,000 e-transactions through its ‘Customer Portal’ digital platform.