H.H. Ahmed Bin Humaid Al Nuaimi launches Ajman Free Zone’s eight new economic incentives for H2 2020
H.H. Sheikh Ahmed Bin Humaid Al Nuaimi, Chairman of Ajman Free Zone (AFZ), has released 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 revealed to provide support to more than 9,000 AFZ-registered firms.
H.H. Sheikh Ahmed Bin Humaid Al Nuaimi said that the newly presented incentives show the free zone's commitment to offering an optimal business environment for continual business development and growth regardless of 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. shared self-confidence that this latest step will assist organisations in AFZ achieve their desired goals and objectives by minimizing the impact of the current global health crisis on their operations.
H.H. likewise attested his commitment to spreading out the spirit of hope as well as optimism by supporting the business community of AFZ, which is a vital element of the emirate's economic climate.
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 brand-new plan, 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.
Throughout the second half of 2020, brand-new and also present companies in AFZ can have the opportunity to capitalize on a three-month flexible instalment payment plan on their company centre lease, flexible instalment prepare for six months on their offices, executive offices or storehouses lease, along with discount rate prices on company registration and also a 25 per cent discount on work lodging.
More than 9,000 AFZ-registered business, both existing as well as brand-new, will certainly take advantage of the new package, which is anticipated to ensure connection and also assistance organisation momentum in the complimentary zone and its affiliated industries.
AFZ likes adding to the emirate's thorough growth by continuously introducing its solutions to match the transforming needs and also requirements of business neighbourhood.
The complimentary zone is residence to financiers from greater than 145 countries, supplying organisations with streamlined and easy setup procedures at affordable rates along with other sustaining services and products