The department of Economic Development Ajman: The business Confidence Index (BCI) increased by 119 points during the 3rd quarter of the current year

A recent survey study published by the Department of Economic Development - Ajman showed a rise in the Business Confidence Index (BCI) in Ajman's business environment as the BCI index has achieved 119 points during the third quarter of this year, at a rate of increase by 10 points higher than the first quarter of the same year in which BCI scored 109 points. The study was conducted by the Department of economic development in Ajman in coordination with Dunn & Bradstreet South Asia Middle East Ltd., the objective of the study aims to measure the prospects of the business community, and to evaluate the position and the business environment in the emirate of Ajman during the coming future, which contributes to the analyze the trends and the key issues that concerns entrepreneurs and business owners in Ajman by measuring future expectations.
HE / Ali Issa Al Nuaimi, the Director General of the Department of Economic Development - Ajman commented on the results of the study saying that the study outcomes are based on actual realistic studies and data extracted from the survey work carried out by the department on business community expectations which play a prominent role in the behavior of economic units and its influencing elements composed of investors and consumers also it is reflected on the overall economic activity in the emirate, accordingly the business confidence index (BCI) is considered as a reliable benchmark to measure the pulse of the business community and the position of companies , government institutions, banks and investors, since it provides a transparent perceptions about the future of economic activity in the emirate.
The study reflects a noticeable optimistic situation about the prospectus for the business sector in the emirate of Ajman where the institutions expect a rise in demand in the light of the increasing construction opportunities and increase in exports and the festivals season, whereas 42% of the participating companies expect rising sales revenues, supported by the expected increase in demand, and expected new customers ,new projects, and new orders for export , diversity of the market, the coming festivals season .With regard to the expected new orders 28% of the participating companies are expecting to see an increase in new orders, while 63% of companies are planning to maintain the current level of purchase orders.
On employment side, there is also a positive prospectus aiming at that 28% of companies hope to hire new employees during the third quarter, while 69% are expecting to maintain the current number of employees. The study also emphasized that the expectations of exporting companies is much stronger than the expectations of none exporting companies measured by the parameters of the index. Regarding income from export sales, 47% of companies are expecting an increase and 43% are hoping to maintain the current sales levels , whereas the restaurants and hotels sector are the most optimistic for the outcomes of the third quarter of 2016, as the BCI scored 131 points, whereas 54% of the companies are expecting an increase in sales revenues .