Ajman Free Zone recorded a significant growth of 35 per cent in the number of new registered companies during the first half of 2021 compared to the same period in 2020. The record shows 867 newly registered companies in the zone, compared to 567 companies in the same period last year. This is a testament of the increasing trust and confidence of the business and investment community to venture in the Emirate of Ajman.
Health sector at the fore
Ajman Free Zone succeeded in maintaining its position as a leader in providing an attractive business environment for major medical companies and health institutions. An 84 per cent growth in new companies registered within the health sector was recorded during the first half of the year. This is attributed to the competitive advantages offered by AFZ such as the strategic location, advanced infrastructures and modern facilities.
Continuous growth in the technology sector
The technology sector within the free zone achieved a rate of 26 per cent during the first half of this year compared to the same period last year. This sustained growth in the sector reaffirms the innovations and keenness of the free zone to contribute to technological advancements in the Emirate of Ajman. AFZ remains a key contributor in the tech upgrade and advancements in line with the UAE’s vision for the Next 50 Years.
Food and beverages: Pillars of food security
Ajman Free Zone provides necessary and world-class facilities for companies operating in the food and beverage sector as a testament, in supporting national efforts to enhance food security. This sector achieved 11 per cent growth and proved the willingness of investors to take advantage of the opportunities available in the emirate, which represents an ideal gateway for expansion and entry for new markets.
Chinese retail: a key sector
Ajman Free Zone recorded a remarkable growth of 70 per cent in the Chinese retail market. This includes a total of 1,100 registered companies operating in China Mall, with more than 3,000 individuals. These numbers are manifestations of the successful and strategic partnership between the Emirate of Ajman and the Chinese Gulf Company, as well as the increasing confidence from Chinese companies.
48 strategic partners and enhanced value-added services driving growth
In line with its goal to provide and offer support to investors, companies and the business community, Ajman Free Zone enhanced its value-added services and expanded new strategic partnerships with both private and government stakeholders. Committed to address the various needs of investors, companies, and employees, AFZ was able increase the number of its key partners to 48, including value-added services providers. These strategic partnerships and expanded services are cost-efficient and increase the business attractiveness in the free zone.
His Highness Sheikh Ahmed bin Humaid Al Nuaimi, Chairman of Ajman Free Zone, said that the success of the free zone as seen in the growth rates is supported by a comprehensive package of services alongside innovative technological solutions. These factors will also be key drivers in ensuring business continuity while meeting the needs of local and global business community.
He added: “The first half of the year marked an important milestone for the health, technology, food and beverage sectors, which topped the list in terms of growth rate. As we continue our efforts in diversifying our economy, we will continue to provide opportunities and support to vital economic sectors to empower them as effective partners in achieving sustainable development in line with the Ajman Vision 2021.”
HH Al Nuaimi concluded: “We look forward with confidence to the second half of this year as we continue to align our vision with those of the government. We renew our commitment to attract more foreign direct investments, create prospects and opportunities in the business sector, and expand our services and scope to drive further economic growth. Ajman Free Zone offers advanced infrastructure, seamless legislations and regulations, as well as competitive products and services, tailored to various economic needs and aimed to establish Ajman as a business-friendly community. Sustainability and excellence are at the core of our values, and we strive to fulfill our vision of transforming Ajman Free Zone as a global business hub.”
For his part, H.E. Eng. Ali AlSuwaidi, Director General of Ajman Free Zone, said: “Ajman Free Zone follows a five-year strategy in creating an attractive business environment in terms of updated policies and regulations. This is positively reflected in the recorded numbers of new companies and investors. We will launch additional initiatives covering a wider range of sectors which will bring about significant impact on the free zone as an attractive business destination. I would like to thank the business community and investors for their sustained trust and confidence as reflected in these positive indicators. I would also like to extend my appreciation for the efforts made by the team members to support the leadership and vision of Ajman Free Zone.”
The achievements of the free zone during the first half of this year also include the development of new products tailored to its target markets as well as the completion of the environmentally friendly warehouses project. The additional units and spaces include showrooms, warehouses, and sustainable industrial facilities. The free zone’s consolidated efforts led to a five-star rating in the Star System Project launched by the Department of Digital Ajman, and the ISO Business Continuity Certificate (ISO 22301: 2019). The 5 per cent satisfaction rate of business partners is also an indicator of successful strategic partnerships and a result of how these collaborations provided a distinct customer experience.