Ajman Free Zone targets to raise SME portfolio by 30% in 2017 through global drive
Source: Brandmark , Author: Posted by BI-ME staff
Posted: Wed July 5, 2017 11:34 am

UAE. Ajman Free Zone (AFZ), today announced that it has launched a new focused initiative through its overseas offices to woo small and medium enterprises (SMEs) which are potentially looking to expand globally and  particularly to tap the local and re-export potential of the Middle East and North Africa (MENA) markets.

In a statement, AFZ said the global SME drive has been launched with the aim of increasing the free zone’s existing SME portfolio of investors by 30 per cent or more in 2017.

“SMEs are the undisputed engine of growth in many economies of the world and in our roadshows and interactions we have come face to face with a number of SME entrepreneurs who have expressed their intention to have a global hub, either through a small representative presence or through e-commerce license route, but were wary of venturing because of high investment costs.  We believe the salience of AFZ’s investment solutions, tailor-made for SMEs in terms of its low initial investment thresholds followed by installment-based flexible payment mechanisms offer exactly what these entrepreneurs are looking for,” said Mr. Mahmood Al Hashemi, Director General, AFZ.

He said that the global SME drive of AFZ was particularly focused on Asia and Europe this year and the initiative was expected to generate significant interest considering that the free zone has offices in the source markets of Europe and Asia.

“Our global offices across geographies have been instrumental in facilitating a steady flow of investments into the free zone and in turn contributing to FDI inflow into the UAE economy.  Globally, SMEs have been reported to be a robust and optimistic industry segment. Thanks to technological innovations, SME entrepreneurs these days have an increased appetite for global forays and we are confident that AFZ with its unique investment propositions, will be their first choice of investment destination,” said Deputy Director General,  Faisal Al Nuaimi.

The innovative investment solutions of AFZ which houses in excess of 15,000 SMEs now within its premises include Business Centres, Smart Offices, installment-based payment schemes, Modular Warehouses starting from 100 square meters upwards. Coupled with these, AFZ also processes visas in 24 hours provision unprecedented convenience to investors.

“The main focus of our SME imitative will be to target companies in the exports, trading and e-commerce space. The advent of digital technology is a major boon for SMEs since they can do business cost-effectively across the world.  In this context, global SMEs may only be looking for smaller hub setups in markets like the UAE, which will give them a vantage point to reach out to MENA and European markets and the AFZ SME solutions is the right fit for these enterprises,” said Mr. Mr. Rishi Somaiya, Sales Director, AFZ.

He said the free zone’s dedication to investment convenience and facilitation particularly for aspiring entrepreneurs were unique and evident in AFZ’s concepts like Business Centre where investors can procure a trade license for a minimum of US$3243 (AED 11,000).

About Ajman Free Zone
Ajman Free Zone (AFZ) was established in 1988, leading to massive industrial development in Ajman by attracting a great number of companies to benefit from the investment privileges, thereby strengthening industry and economy in the UAE. AFZ provides competitive privileges and facilities allowing companies to get a considerable return on their investment. AFZ continues to develop its infrastructure, spending millions of Dirhams along its free zone area of more than one million square meters. The strategic location advantages of AFZ include reach to international airports within 25 minutes. AFZ is located opposite Ajman Port.

The free zone offers 100% ownership, easy transfer of capital and profits, exemption from personal income tax, exemption from import and export duties, competitive prices on facility usage and competitive prices for power/electricity. The advantage also includes competitive prices on leasing, easy access to low cost labour and well developed infrastructure. It also offers one-stop counter service for effecting transactions and fast and easy procedures and in most cases issues the license within 24 hours.

 

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