Free Zone expands over the 500 mark
Ajman Free Zone has announced a milestone number of companies operating in the Emirate's Free Zone as it also launches a new logo.
Ajman is filling up with foreign companies eager to take advantage of its free zone. Ajman Free Zone (AFZ) has broken the 500 barrier according to AFZ chairman, Sheikh Ahmed Bin Humaid Al Nuaimi who also claims the trade zone is the second biggest in the UAE.
Sheikh Ahmed also claims that AFZ has grown by 7.5%, generating USS $300 million in investment. He was so pleased with the landmark figure that he presented a commemorative award to Gary Stanford, MD of Boral Middle East, the 500th company to open for business at AFZ.
There are now a total of 522 companies operating in AFZ, which Sheikh Ahmed attributes to the government’s encouragement of foreign investment. “The combination of extremely competitive leasing fees, hassle-free government procedures and the willingness to support the most diverse businesses, both large and small, has proved to be an unstoppable engine for growth,” he said.
AFZ also launched a new logo and new corporate identity. The new logo is derived from the Arabic symbol for the letter “A” and is supposed to augment AFZ’s image as a modern, efficient organisation. Sheikh Ahmed is very pleased with the new logo and said: “Our logo is a neat, solid unit – and so are we.”