Department of Economic Development in Ajman reveals 7 point increase in business confidence index
Business confidence in Ajman has risen during the past two years, according to a new survey of companies in the emirate.
The Department of Economic Development in Ajman (DED Ajman) said the Business Confidence Index score of 116 in the first half of 2018 was up seven points compared to the first half of 2016.
The score is due in part to the department’s efforts to attract more regional and global investments to Ajman and raise its international competitiveness, DED Ajman said in a statement.
It added that the seven point increase is attributed to increased demand, vibrant construction opportunities, robust exports, and higher tourist arrivals.
The results also showed that the business confidence index for the local small and medium enterprise (SME) sector rose to 114 points in the first half of this year versus 108 points during the same period of 2016.
The findings cited higher corporate sales revenues due to the stability and optimism prevailing within the business environment.
Zahra Al Bannai, director of planning and business development for DED Ajman, said: "The growth is the culmination of our ongoing efforts to organise economic affairs, revitalise the business sector in the emirate, and provide the economic infrastructure required to diversify the economic base and develop economic sectors.
"These results indicate a positive prediction for the local business environment and an optimistic view from the companies about the prospects and opportunities that are available in Ajman."
The survey showed that 71 percent of surveyed companies said they didn’t face obstacles to their business operations in the first half of 2018 compared to the 52 percent recorded in the first half of 2016.
Companies in the transport sector and trade and retail were most optimistic, with 100 percent and 98 percent respectively confident that they are not going to experience major business challenges during the second half of 2018.
The survey included 93 non-exporting companies in Ajman while the Business Confidence Index for the exporters category reached 131 points in the first half of 2018.
The survey showed that exporters' expectations are much better than non-exporters, with 58 percent of exporters expecting an increase in revenues in the first half of this year compared to 33 percent of non-exporters.
0 comments