H.H. Ahmed Bin Humaid Al Nuaimi launches Ajman Free Zone's eight new economic incentives for H2 2020

Latest move aims to support AFZ-registered companies and follows initial package launched to help over 9,000 firms

  
H.H. Sheikh Ahmed Bin Humaid Al Nuaimi, Chairman of Ajman Free Zone.

H.H. Sheikh Ahmed Bin Humaid Al Nuaimi, Chairman of Ajman Free Zone.

  • Fee discounts and waivers to help ease cost of doing business
  • AFZ reaffirms commitment to ensuring business continuity amid COVID-19

H.H. Sheikh Ahmed Bin Humaid Al Nuaimi, Chairman of Ajman Free Zone (AFZ), has launched AFZ’s eight new economic incentives for the second half of 2020. The new package, which includes significant fee discounts and waivers, aims to ease the cost of doing business at AFZ while also ensuring business continuity. The  launch of the eight incentives followed a package earlier unveiled to provide assistance to more than 9,000 AFZ-registered companies.   

H.H. Sheikh Ahmed Bin Humaid Al Nuaimi said that the newly introduced incentives demonstrate the free zone’s commitment to providing an ideal business environment for continuous company growth and development despite challenging global economic conditions. He further pointed out that the new package will specifically support small and medium enterprises (SMEs) that have been affected by the coronavirus disease (COVID-19) by reducing the cost of doing business and boosting their commercial resilience.

H.H. expressed confidence that this latest move will help businesses in AFZ achieve their desired goals and objectives by minimizing the impact of the current global health crisis on their operations. H.H. also affirmed his commitment to spreading the spirit of hope and optimism by supporting the business community of AFZ, which is a critical component of the emirate's economy. The newly launched incentives are positioned to further strengthen the free zone’s business-friendly environment according to the demands and requirements of the customers and registered businesses.     

Under the new package, AFZ will impose zero fines on bounced cheques and cheque replacements, as well as zero fines on non-renewal of licenses. The free zone will implement also a 100 per cent waiver on E-channel guarantee fee.

During the second half of 2020, new and existing companies in AFZ can have the opportunity to take advantage of a three-month flexible instalment payment plan on their business centre lease, flexible instalment plan for six months on their offices, executive offices or warehouses rent, in addition to discount rates on company registration and a 25 per cent discount on labour accommodation.

More than 9,000 AFZ-registered companies, both existing and new, will benefit from the new package, which is expected to ensure continuity and support business momentum in the free zone and its affiliated sectors. AFZ is keen on contributing to the emirate's comprehensive development by continuously innovating its services to match the changing demands and requirements of the business community. The free zone is home to investors from more than 145 countries, providing businesses with streamlined and hassle-free setup processes at competitive rates along with other supporting products and services.

-Ends- 

For further information, please contact:
Orient Planet Group (OPG)
Tel:  +971 4 4562888
Email: media@orientplanet.com
Website: www.orientplanet.com 

Send us your press releases to pressrelease.zawya@refinitiv.com

© Press Release 2020

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.

To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.

More From Press Releases