AJMAN- The Ajman Free Zone announced the results of its operational performance for 2021 and marked an increase in the number of registered companies by 1,792.
The four percent growth attained by the AFZ compared to 2020 indicates the growing confidence of foreign investors and companies in the free zone's portfolio of facilities and incentives. The results also showed a high occupancy rate in offices, warehouses, and business spaces within the AFZ, an increase in the sources of incoming investments and a rise in exports and re-exports.
Sheikh Ahmed bin Humaid Al Nuaimi, Chairman of the Board of the Ajman Free Zones Authority, said, "As an organisation, which holds a leading position in making vital contributions toward the growth and diversification of the national economy, the AFZ will continue offering solutions and ideal environment for the growth and expansion of businesses, to attract companies from around the world. AFZ has earned its position as a strategic destination for regional and international investments."
He added, "Commitment to the development of its services and operations, achievement of strategic objectives to support business partners, the establishment of integrated business environment pillars recognising the wide scope of facilities and incentives, development of infrastructure and quality and efficiency of electronic services, are a few of the reasons behind the success of the AFZ." In the previous year, the AFZ has also marked a 90 percent in rental units’ occupancy rate, which extends over more than 867,000 square metres, reflecting the momentum of business and investment activities. The free zone has extensive business facilities, 530 warehouses, more than 7,000 offices, and four business complexes.
The AFZ, also marked another milestone in 2021, following its successful completion of 100 percent automation and digitisation of its services. During this period, it also provided more than 240,000 e-transactions through its Customer Portal, a smart platform that offers an array of five-star rated solutions for government digital services.
Further, the free zone also strengthened its leading position as an active contributor to the export and re-export activities within Ajman, contributing 22 percent of total export activities and 24 percent of total re-export activities in Ajman during 2021.
Ali Al Suwaidi, Director-General of the Ajman Free Zone, stated, "Ajman Free Zone’s results for 2021 are a testament to the strength and efficiency of our operations and highlights our successful strategy. The surge in the number of new companies registered across several vital sectors reflects the growing confidence in the competitive advantages offered by the free zone as a business incubator and the efficiency of its value-added solutions. We also express our gratitude to AFZ's business community, strategic partners, and employees, who play a vital role in our continued successes." In 2021, AFZ marked many milestones in its leadership journey by winning prestigious global awards and recognitions, most notably the seventh place in the annual FDI Global Free Zones Ranking of the Financial Times.
© Copyright Emirates News Agency (WAM) 2022.