New business licenses in Ajman Free Zone increase 28% Q1 2018

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 AFZ until the end of Q1 2018 increased to 12,362, showing a significant growth of 28% over the corresponding period last year as the free zone is growingly 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 have registered with AFZ, operating across diverse domains, including import & export businesses, which account for 46% of the new comers, the service sector around 9%, and the gold & diamond trade comprises 3% of the newly registered activities.

Commenting on the first quarter performance, Fatima Mohammed Salem, Acting Director-General of Ajman Free Zone, said that the growth of the industrial-cum-commercial sector in the emirate, to which 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% during Q1 this year.

Ajman Free Zone 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. — SG