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29 March 2024

Ajman Free Zone seeks investments from Far East

Published
By Staff

Ajman Free Zone (AFZ) showcased its strength and flexible investment options at the Hong Kong World SME Expo in a bid to boost the increasing share of Far Eastern investments into the Free Zone.

Mahmood Al Hashemi, General Manager of Ajman Free Zone, said: “Ajman has attracted sizeable investments from the Far East within the free zone as well  as at the successful retail concept the Ajman China Mall, which is a part of the free zone and has grown into a popular shopping destination in the UAE. Participation in the HK SME expo was in line with the free zone’s commitment and dedicated focus on the small and medium enterprises across the world which are looking at a tax-free and flexible investment platform in the UAE, a well acknowledged re-export hub and spring board for global companies looking to engage the Middle East and North Africa (Mena) market.”

Nader Eldesouky, Deputy General Manager, said: “World over, the SME sector forms a major chunk of any economy ranging from 30 to 40 per cent contributing a significant share to national GDPs. In the UAE, 90 per cent of the businesses fall in the SME range and at Ajman Free Zone we are convinced that this sector has robust potential to expand further.”

The HK SME Expo was organised by the Hong Kong Trade Development Council (HKTDC) to provide a platform for SMEs to explore growth and investment opportunities on a global scale.

Elaborating on the SME focus of the free zone, Rishi Somaiya, Sales Director of the Free Zone said: “The free zone has perhaps the best of the investment packages in the UAE tailor made for small entrepreneurs wishing to tap the growing Mena market”.

AFZ also provides a unique advantage to investors offering lease contracts of up to 40 years in two tranches of 20 years each, which has attracted scores of companies to the free zone that is home to over 7,000 enterprises currently.