Ajman Chamber discusses trade and investment ties with Nepal

Abdullah Al-Muwaijai, Chairman of the Ajman Chamber of Commerce (ACCI), received Tej Bahadur Chhetri, the Ambassador of Nepal, to discuss ways to enhance economic cooperation, strengthen trade relations, and explore available investment opportunities between the two countries.

The meeting was held at the Ajman Chamber’s headquarters in attendance of Mohammed Ali Al Janahi, Executive Director of the Member Support Services Sector, Aisha Al Nuaimi, the Acting Director of Investment and Business Promotion at the Ajman Chamber, and Anas Mahdi, Director of the Office of the Ambassador of Nepal.

Abdullah Al Muwaiji emphasised the importance of the meeting in strengthening economic ties between Ajman and Nepal and highlighted available investment opportunities and ways to develop trade relations to enhance the volume of trade exchange between the two countries.

He stated that Ajman and Nepal possess promising opportunities for developing mutual economic and investment relations, affirming Ajman’s commitment and eagerness to provide support and facilitate business operations for investors from Nepal During the meeting, the Ajman Chamber presented the available investment opportunities in sectors such as real estate, construction, tourism, education, health, hospitality, and others.

The attendees emphasised the importance of benefiting from the growth of trade exchange in the food and beverage sector, especially given the increase in trade between Ajman and Nepal by 30 per cent in 2023 compared to 2022. Additionally, the membership of Nepalese nationals in Ajman grew by 9.5 per cent in 2023.”

Tej Bahadur Chhetri affirmed that Nepal looks forward to enhancing its economic relations with the UAE. He added, “We seek to develop cooperation with the Emirate of Ajman and establish a sustainable strategic partnership that supports increasing mutual investments and growing the volume of trade exchange.”

The also discussed the need to organise specialised exhibitions and hold joint forums to increase cooperation opportunities among business owners, and to highlight the available investment opportunities in Ajman and Nepal.

Rental market surges: Ajman’s rental market recorded a significant 49 per cent increase in transaction value during the first half of 2024, reaching Dhs2.277 billion, according to the Ajman Municipality and Planning Department.

Abdulrahman Al Nuaimi, Director-General of the Department., said that the rise in transactions reflects Ajman’s growing appeal as a destination for living and investment, supported by government initiatives and infrastructure improvements.

He emphasised that Ajman’s strategic location and quality of life make it an attractive hub for residents and businesses alike.