Tuesday 20 October 2020 - 11:18:48 am

New business licences in Ajman Free Zone increase 28% to 12,362 in Q1 2018


AJMAN, 2nd June, 2018 (WAM) -- The strategic and dynamic location of the Ajman Free Zone, AFZ, plays a significant role in driving the commercial and industrial sectors in the emirate, in particular, and in the UAE, in general, with the AFZ management stepping up efforts to maintain its investment-conducive environment as a leading business hub in the region.

The number of companies registered with the AFZ, as of the end of Q1 2018, increased to 12,362, showing a significant growth of 28 percent over the corresponding period last year, as the free zone is becoming an essential hub for many companies operating in different sectors, such as trade, services, jewelry, consultancy and others.

During the first quarter of this year, 783 new companies registered with the AFZ, operating across diverse domains, including import and export businesses, which account for 46 percent of the newcomers, the service sector saw 9 percent, and the gold and diamond trade comprises 3 percent of the newly registered activities.

Commenting on the first quarter performance, Fatima Mohammed Salem, Acting Director-General of the AFZ, said that the growth of the industrial-cum-commercial sector in the emirate, to which the AFZ has significantly contributed, has reflected positively on the economy of the emirate, in general, and its budget, with the zone posting a growth of 28 percent during Q1 this year.

The AFZ provides a wide range of innovative services conducive to drawing investment companies from various fields. It boasts sophisticated and integrated infrastructure and introduces smart solutions to business challenges, with the strategic partnerships it has developed with both the public and private sectors over recent years, and the robust legislation it has introduced, playing a significant role in promoting investment and entrepreneurship in Ajman.

WAM/Rola

WAM/Hazem Hussein/Tariq alfaham