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The deal is valued at $48.7 billion.

BYD Q3 profit down 33%

This was a 33% year-on-year decrease.

AFZ e-commerce grows 45 percent

The growth was attributed primarily to warehousing solutions. (Pic WAM)
  • AFZ said the growth can be attributed to the authority's diverse set of offerings, primarily warehouse solutions and the evolving e-commerce sector in the UAE.
  • The dedicated logistics cluster also benefits e-commerce businesses by providing access to end-to-end warehousing capabilities, AFZ said.

Ajman Free Zone (AFZ) has announced a growth of 45 percent in its e-commerce sector since the beginning of this year.

The announcement was made during AFZ’s attendance in the Seamless Middle East 2022 conference.

AFZ said the growth can be attributed to the authority’s diverse set of offerings, primarily warehouse solutions and the evolving e-commerce sector in the UAE. Warehousing solutions have remained a core focus in AFZ’s operations and are designed to fill critical logistical gaps, making the free zone a reliable logistics, storage and distribution centre, it said.

Additionally, the dedicated logistics cluster also benefits e-commerce businesses by providing access to end-to-end warehousing capabilities.

The free zone supported its e-commerce partners during Seamless ME 2022, by having five of its business partners – DM Mobility, Bayt Al Oud, Souq Bazar, Apple Wang, and Fast Commerce – exhibit their range of services and offerings at the AFZ booth.

Ali AlSuwaidi, Director-General of AFZ, said, “The e-commerce sector has been integral to our success, especially considering its rapid growth in the country. AFZ recognises the importance of having advanced logistics facilities installed in strategic locations for broad outreach and market penetration, to facilitate e-commerce growth. The positive results reflect our strategic approach and guidelines to developing this industry and attracting more businesses with our e-commerce hub, advanced range of offerings, and other value-added services.”