The Ajman Media City Free Zone is all set to accelerate its growth initiatives and enhance its position as an attractive destination of foreign investment in the UAE with introduction of new incentives, new partners and trade agreements in key markets, said its top official.

"Within the first year of its launch, Ajman Media City Free Zone has made significant progress in line with our strategic plan to attract foreign investment and boosting entrepreneurial growth in the UAE," remarked CEO Mahmood Alhashmi.

"In the last few months, this newest free zone in the UAE, has successfully created a strong presence in India Russia and China, our key markets," he stated.

"To further boost our efforts to contribute to national economy and create diversified investment opportunities, we have identified new territories for expansion and launched new measures and incentives for the prospective investors," remarked Alhashmi.

"Looking ahead, we have embarked on a strategy to build long term trade relations in global economies like United Kingdom and Western European countries," he added.

According to him, the Ajman Media City Free Zone offers significant exemptions on the mandatory eChannel fee with long term upfront investment packages.

The eChannel is a mandatory immigration system requirement for all the new companies opening in the UAE. "Our two- and three-year upfront investment packages offer the investors a massive cost advantage in their start-up phase," stated Alhashmi.

"For example, in our two-year upfront package, Dh5,000 out of all fee applicable is exempted while there are even more attractive benefits in the three-year upfront package where an investor will receive Dh5,000 exemption and the costs related to one visa is also waived off," he explained.

The free zone has appointed Makateb as a key partner in Dubai to serve its existing and prospective customers and also roped in Consult Us & Thrive as an agent in Moscow, Russia, he added.

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