Ajman Free Zone achieves 33 per cent growth

Business Bureau, Gulf Today

Ajman Free Zone (AFZ) witnessed a growth of 33 per cent in the number of new companies registered with it during the first quarter of this year, compared with the same period of 2020. The total number of new companies registered in the free zone reached 492 during the first three months of 2021, compared to 269 companies in the same term last year.

This comes as a continuation of AFZ’s solid performance during the past year, considering the growing confidence of the business community in the potential and competitiveness of Ajman.

The education sector, which includes training, educational counseling and freelancing, continued its steady growth, recording 39 per cent during the first quarter this 2021. With this, the total number of academic-related institutions and research centres now exceed 170. This solidifies the leadership position of AFZ as a driving force for the continuous development of the education system.

Eng. Ali AlSuwaidi, Director General of Ajman Free Zone, said: “The operational performance results for the first quarter of 2021 showed tangible and steady progress across various economic and investment activities. Our achievement mainly comes due to the success of our approach, which aims at laying the foundations for innovation and accelerating the pace of smart transformation. This will ensure the continuity of services, solutions, and facilities to meet the changing needs of both local and international business communities.”

The technology sector also achieved a growth of 23 per cent, as a result of proactive investment efforts in the said industries.