Business confidence in Ajman is expected to increase by first half of 2019
The Business confidence index field in Ajman for the first half of 2019 rose 18 points from the second half of 2018, confirming the business community’s continuous optimism over the emirate’s growth prospects. Positive expectations of stronger local and global economic performance resulted in the increase coupled with the rising opportunities in many expanding and vital industries in the emirate such as tourism and real estate.
The expected performance indicator covered key economic sectors, including manufacturing, restaurants, and hotels. The three were among the sectors that received the highest confidence level, while projections for transport and storage slightly decreased.
H.E Ali Issa Al Nuaimi, Director General of the Department of Economic Development – Ajman (DED-Ajman), attributed the increase in the business confidence level in the local sectors, which went up from 108 points in the second half of 2018 to 126 points for the first half of this year, to Ajman’s steady economic development that complements the UAE’s overall growth.
He added: “The business community’s high confidence in Ajman affirms anew the emirate’s status as a distinct business and investment destination at the local and global levels. Overall, amid challenges facing many countries over the past year, the UAE has been able to record economic growth thanks to its successful relevant policies. The national government is expected to sustain and further improve this growth in the current year.”
The overall expected indicator recorded growth in the construction, wholesale and retail trade, real estate, and services sectors, in addition to the restaurant and hotel sectors, both of which recorded a qualitative outlook of 120 to 141 points. The sectors that registered higher points were manufacturing, 130 points for the first half of 2019 from 107 points during the second half of 2018; construction, 128 points from 111 points; wholesale and retail trade, 113 points from 109 points; and real estate and business services, 132 points from 111 points.