Interview: Saif Al Suwaidi
What strategies aim to boost government revenue and foster a business-friendly environment in alignment with the emirate’s economic strategy?
SAIF AL SUWAIDI: Ajman Vision 2030 sets a roadmap for creating an ecosystem that fosters innovation, entrepreneurship and economic sustainability. Revenue diversification is a cornerstone of the strategy, achieved by promoting investment in high-growth sectors such as technology, tourism and real estate. These efforts are complemented by initiatives aimed at simplifying licensing procedures and introducing financial incentives to attract start-ups and emerging businesses. Creating a business-friendly environment also involves cultivating public-private partnerships, which leverage private sector innovation to achieve fiscal sustainability.
The strategy also prioritises youth entrepreneurship and the growth of small and medium-sized enterprises (SMEs). The government launched the Taziz Programme in 2020 to help develop SMEs, aiming to support local entrepreneurs and enhance their contribution to the emirate’s economy. As a result, the programme has seen a 61% increase in business licenses. Additionally, the Reyada Programme encourages citizens to engage in home-based economic activities, reducing start-up costs and supporting local entrepreneurship, leading to a 117% rise in home business licenses.
In what ways is the 2025 budget expected to impact local businesses and investment opportunities?
AL SUWAIDI: Valued at Dh3.7bn ($1bn), the 2025 budget underscores Ajman’s commitment to sustainability and innovation. Investment in eco-friendly projects and advanced technologies are creating fertile ground for both local and international investors. These initiatives signal Ajman’s alignment with global sustainability trends, enhancing its attractiveness as an investment destination. A significant portion of the budget is allocated to infrastructure development, public facilities and overall accessibility for businesses. This focus on infrastructure enhances operational efficiency, bolsters foreign direct investment and elevates the local business ecosystem.
Support for digital transformation is another key aspect, with 27% of the budget dedicated to innovation and public services. This funding encourages businesses to adopt digital solutions, enhancing their competitiveness in an increasingly tech-driven global market. Additionally, 20% of the budget is directed towards economic development initiatives, which include growth incentives, access to funding and tourism promotion. The consumer confidence index is recorded at 128 points, which indicates the continued positive outlook of consumers towards the local economy.
How is Ajman addressing digital transformation challenges and workforce skill development to remain competitive in the region?
AL SUWAIDI: The emirate has introduced innovative platforms, such as the Department of Digital Ajman, to enhance government service efficiency and simplify processes for businesses. The electronic permits system provides investors with the opportunity to obtain permits for commercial activities and offers services such as license inquiries, document submission and appointment booking. In the private sector, training programmes equip businesses with the tools needed to navigate the digital economy effectively.
Workforce development is a key priority. Training initiatives in fields such as programming, cybersecurity and agile project management equip professionals with the necessary skills to thrive in a rapidly evolving economic landscape. Leadership projects focus on developing managerial expertise, fostering a culture of innovation and aligning employee capabilities with the emirate’s objectives. Continuous professional development programmes ensure that employees remain adept at leveraging technological advancement, further bolstering Ajman’s global economic competitiveness.
