Ajman Free Zone (AFZ) has registered 349 new companies in the third quarter of 2021, which reflects the rising confidence of investors in AFZ’s services, facilities, and incentives.
In its report, AFZ said that education was the fastest-growing sector in the Free Zone with 34 percent growth, followed by advanced technology and health in the second position with 21 percent rise in each in Q3 2021 compared to the same period in 2020.
The growth in these sectors can be attributed to the competitive advantages offered by the Free Zone to companies, healthcare services and technology solutions providers such as efficient smart services and integrated solutions, telecommunications and information technology facilities, infrastructure development in the region, and investor-friendly initiatives.
The Free Zone also recorded a 12 percent growth in the number of new companies registered in the food and beverage sector.
The remarkable growth aligns with AFZ’s policies to attract foreign investments and companies in vital industries and its commitment to contribute effectively to the national efforts and endeavours to promote food security and provide marketing solutions for their products.
“The great results achieved during the third quarter reflect the success of AFZ’s strategies to position it as a preferred destination for the business and investment community in the UAE.” Ali AlSuwaidi, Director-General, Ajman Free Zone, said. “It also underlines the growing confidence of companies and investors in Ajman’s business environment in line with the promising prospects in the local economy and factors that facilitate business and encourage entrepreneurship, such as its strategic position, well-developed infrastructure and flexible legislative framework.”
The results of the operational performance analysis also reflect the Free Zone’s distinct position in the emirate’s export and re-export landscape, as it contributed 36 percent to the total export and re-export activities during the first nine months of 2021. It is also due to the logistic advantages and strategic location of AFZ near the Ajman port.