Ajman: Ajman Free Zone has confirmed the effectiveness of the new insurance umbrella launched several months ago in cooperation with Dubai Insurance to protect workers' rights and reduce the burden on investors of the free zone, as well as contribute to the government's efforts to protect the rights of this category.
Ajman Free Zone pointed out that the number of beneficiaries of this initiative has reached more than 700 people since its launch last August, which confirms its success and acceptance largely by investors and workers, as it is an alternative to the bank guarantee for expatriate workers, where it covers workers' benefits such as end of service gratuity, annual leave allowance, unpaid salaries and the cost of an economy class return ticket to the home of the worker.
Ajman Free Zone is the first free zone in the UAE to introduce a new insurance system to replace the current bank guarantee for expatriate workers.
"The Ajman Free Zone is doing a lot to facilitate the management of business in the region for the benefit of all parties. We also commend this exceptional initiative that takes care of the rights of investors and workers in the interest of business. We are overwhelmed with all AFZ efforts for especially launching of services related to facilitating business using digital platforms." said Maharaj Hussain Abdul Latif from Spectum Converting Industry.
Hafza Nadia Shahbaz from Misstique International showed her pleasure with AFZ recent step and said “We are pleased with the initiative launched by Ajman Free Zone to establish a new and advanced insurance system that guarantees the rights of all workers. It is great to see AFZ adopting advanced and modern practices that serve all parties. The new initiatives will serve investors and workers, benefit everyone and help business grow.”
In accordance with the partnership agreement with Dubai Insurance Company, workers' insurance certificates are issued in accordance with the conditions specified in the insurance policy to ensure the achievement of the desired objectives.
About Ajman Free Zone:
As part of Ajman vision 2021 and the greater UAE Vision 2030, Ajman Free Zone plays a pivotal role in boosting the economy of Ajman by attracting and sustaining investors within a dynamic business eco-system that will enable their growth and success. Its strategic location, close to two airports and a short distance from Ajman Port is a key contributor to its appeal as a major business destination for both regional and international companies looking to accelerate their growth plans. It remains dedicated to a progressive and innovation agenda which has seen the creation of a digitized communications portal aimed at simplifying business set-up. It also offers a diverse range of license types, a wide range of infrastructure, support services and workers’ accommodation aimed at nurturing businesses. AFZ, along with stakeholders is focused on making the business set-up process easy and simple to help businesses succeed and grow, The organisation is committed to diversifying its portfolio, attracting sectors which offer strong growth potential. These include Education; Food & Beverage; Retail; Information Technology and Health, amongst others. The aim is to create a progressive and sustainable economy which can guarantee the future prosperity of the Emirate of Ajman and the UAE.
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© Press Release 2019