Ajman Free Zone registered 1,717 new companies in 2020

The Ajman Free Zone (AFZ) in the UAE said a total of 1,717 new companies registered with it in 2020.

Offshore companies comprised 11 per cent of the total number of new companies.

The education sector was the most active in terms of investment, with a growth of 26 per cent. The technology sector’s economic and investment activities grew 20 per cent, reported news agency WAM.

The Ajman Free Zone boosted Ajman’s total exports by 29 per cent, while acquiring a 35 per cent share of the volume of re-exports in 2020.

The free zone also registered a growth of 4 per cent in the number of new companies within the retail sector in China Mall. Backed by the free zone’s strategic partnership with Gulf Chinese Company, which manages operations at China Mall, the free zone added 40 new companies in 2020. The free zone is currently home to more than 1,100 retail companies and over 3,000 individuals within the business community in China Mall.

Among the projects being undertaken at the free zone at present, it includes the completion of the second phase of the Robotic Process Automation (RPA)system and several electronic and smart services.

Sheikh Ahmed bin Humaid Al Nuaimi, chairman of Ajman Free Zone, said: “We are positive that the current year will open new opportunities for the free zone while we continue to support the business and investment community with a package of economic incentives, which have helped facilitate business continuity during the past year despite the challenges brought about by the global crisis.

“We expect that Ajman will continue to attract more investments in the areas of education, technology, industries, trade and commerce. They are all important contributors to the country’s efforts to accelerate economic diversification.”

In September last year, the Ajman Free Zone signed an MoU with noon.com to enhance the emirate’s e-commerce sector and attract new investors. The agreement allowed the free zone investors who hold e-commerce licenses to join Noon’s platform.

Read: Ajman Free Zone signs agreement with online retailer Noon to grow local e-commerce sector