Tuesday 02, January 2018 by Jessica Combes

Focus on global expansion and diversity key to Ajman Free Zone growth in 2017

 

A persistent focus in attracting new economy entrepreneurs spanning e-commerce and services across a global landscape resulted in robust inflow of investments in to the free zone in 2017, significantly supporting the Ajman Free Zone’s (AFZ) year on year growth strategy.

A statement by AFZ after an internal review of its business in 2017 said that it kept its growth pace in attracting investments and one of the most significant achievements in 2017 was the geographical diversity of investments into the free zone.

“Over and above the growth in absolute numbers, 2017 was a milestone year for two major reasons – one is a major diversification of investments as we tapped new source markets and second was our focus on the new economy, particularly across digital entrepreneurships and services industries. What we did was to align our vision with the growing Small and Medium Enterprise  (SME) segment world over positioning AFZ as an ideal vantage point for these businesses looking towards the Middle East and North Africa (MENA), Indian Sub-Continent and Africa. While we continue to maintain healthy investment continuity with our traditional source markets, our foray into new markets during 2017 helped us diversify our business outlook,” said Faisal Al Nuaimi, Executive Director, Sales & Marketing, Ajman Free Zone.

AFZ is also currently working on opening marketing hubs in Central and East Asian countries as well as Europe. In the second half of the year, AFZ did a roadshow in Italy to showcase its investment propositions to European investors.

“Our keenness to tap investments from new markets was also complemented by new services. Coupled with this, we received continued patronage from our investors  to our pioneering strategy based on offering flexible instalment based investment packages ideal for Small and Medium Enterprises (SMEs),” said Al Nuaimi, adding that AFZ also started corporate re-domiciliation services targeted at global offshore companies this year. AFZ has had robust inquiries to this recently launched service which is considered as an endorsement of the UAE as a business-friendly investment destination.

Stating that one of the cornerstones of 2017 success was also a focused approach to woo SME’s from across the world, Rishi Somaiya, Sales Director, AFZ, said the SME focus was escalated to many global markets with the help of local offices present in many markets. AFZ’s flexible, low-investment option was a major catalyst in fueling interest among global SMEs to consider moving to the free zone.

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