Business

492 new companies in different vital sectors

39 per cent growth in education sector which includes training academies, educational counselling and freelancing

Number of registered companies in the technology sector grew 23 per cent

Health sector recorded a growth of 34 per cent supported by advanced infrastructure and vital facilities

Strategic location strengthened AFZs position as a major contributor to total exports and volume of re-exports in Ajman by 24 and 22 per cent, respectively

Ajman Free Zone (AFZ) witnessed a growth of 33 per cent in the number of new companies registered with it during the first quarter of this year when compared with the same period of 2020. The total number of new companies that registered in the free zone reached 492 during the first three quarter of 2021, which was just 269 companies in the same term last year.

This comes as an extension of AFZs solid performance during the past year, taking into account the growing confidence of the business community in the potential and competitiveness of Ajman.

The education sector, which includes training, educational counselling and freelancing, continued its steady growth, recording 39 per cent during the first quarter this 2021. With this, the total number of academic-related institutions and research centres now exceed 170. This strengthens the leadership position of AFZ as a driving force for the continuous development of the education system.

The technology sector also accomplished a growth of 23 per cent, as a result of proactive investment efforts in the said industries. This is in line with the Ajman 2021 vision, which is diversifying the economy to become the cornerstone of sustainable development for the well-being of its residents.

AFZ also verified an attractive environment for healthcare institutions. Specifically, it witnessed a 34 per cent growth in new companies registered in the health sector, thanks to advanced infrastructure, vital facilities, and a strategic location.

Moreover, AFZ prolonged its active contribution in total exports, as well as the volume of re-exports in the emirate, recording 24 and 22 per cent, respectively, during the first three months of this year. This achievement reflects the success of the economic zones ambitious expansion plan to attract more national and international firms, as well as foreign direct investments (FDI). This facilitates them to benefit from the investment and commercial opportunities available in Ajman and in the UAE.

The operational performance results for the first quarter of 2021 showed tangible and steady progress across various economic and investment activities. Our achievement mainly comes due to the success of our approach, which aims at laying the foundations for innovation and accelerating the pace of smart transformation. This will ensure the continuity of services, solutions, and facilities to meet the changing needs of both local and international business communities. said H.E. Eng. Ali AlSuwaidi, Director General of Ajman Free Zone,

AlSuwaidi added: Our impressive performance continues as a result of our firm commitment to strengthening our digital platforms, which have shown remarkable success in terms of speeding up service delivery within short time frame and optimally investing available resources to better support our expansion plan in the UAE, as well as in the regional and global markets.

Moreover, AlSuwaidi mentioned that education and technology remain at the forefront of the fast-growing sectors in AFZ, and that they are frequently developing the economic zones digital and legislative infrastructure, as well as promoting its readiness to keep pace with the rapid changes of global economies.

AlSuwaidi concluded We at AFZ are keen at providing more incentives to facilitate more businesses and investments across health, education, and technology sectors, which are solid pillars for building a resilient, competitive, and sustainable economy. We also aim to empower investors and companies to access the main growth markets directly through our customer portal, which continues to provide integrated services, innovative solutions, and advanced platforms that serve their current and future expansion plans. We renew our commitment to further enhance the level of competitive capabilities that make the free zone a leading hub on the global economic map and a pivotal player in strengthening the reputation of Ajman as a first-class investment destination,.

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