Lucrative Opportunities for Indian Investors via Ajman Free Zone (UAE)

Lucrative Opportunities for Indian Investors via Ajman Free Zone (UAE)

Mumbai, February 18th – His Excellency Mahmood Al Hashemi, Director General of Ajman Free Zone Authority (AFZA), UAE will be touring India and addressing media at a series of seminars and press conferences in Mumbai, Delhi and Ahmadabad this month. This high profile visit to the Indian sub-continent will be to initiate and build a long and lucrative means of economic cooperation between the two countries. Jointly with the Confederation of Indian Industry (CII), he will be addressing the press and encouraging Indian investors to explore the fields of joint cooperation regarding investment and commercial facilities offered to the investors in the Emirate of Ajman.

The press conferences will be held on 22^nd, 25^th and 26^th February in Mumbai, Ahmadabad and Delhi respectively. Potential Indian investors will be briefed about diverse investment options at AFZA through which emerging and established Indian industrialists and entrepreneurs targeting emerging markets can set up operations in the Ajman Free Zone. A three member high profile delegation from AFZA will arrive from UAE for the press conference on 22^nd February.

AFZA has over 7000 companies with investments from Indian investors exceeding over 40%. To further accelerate Indian investments, AFZA has thrown open their gates to Indian citizens by offering all the necessary facilities and preparations to make sure that the investors will be furnished with the best services and products. Thus Indian investors can avail of premium investment privileges and opportunities in the Emirate of Ajman. Says H.E. Mahmood Al Hashemi, “Ajman Free Zone is deemed as one of the fastest growing free zones in the region. It will keep up the effort to continue this growth as the coming era will witness more concentration on the customers and services offered to them.” He further explained that the most important characteristics of investing in Ajman Free Zone, is the flexibility of transactions and ease with which procedures are executed with business licenses issued in 24 hours. This is in light of the new strategic plan of AFZA. In additional, Ajman Free Zone offers advantages such 100% foreign ownership and repatriation of capital and profits, no personal income-tax, low labour cost, the only downtown free zone in UAE, diverse range of licenses for trading, services and industrial activities, competitive lease facility and an array of facilities ranging from Smart Office, Land and Warehouse.

Rishi Somaiya, Sales Director of Ajman Free Zone added, "With some many free zones operating in the regions, AFZA is the first to offer flexible payment facilities to its clients of up to twelve installments. This will promote entrepreneurship as the entry level cost of doing business is reduced giving an opportunity to young entrepreneurs and supporting mid level operating businesses".

Smart Warehousing is another innovative product from Ajman Free Zone and the first to be offered in the UAE where the storage units start at a 100 sq.m. "This is one-of-a kind proposition in the UAE and the region. Smart Warehouses have been designed in a flexible, modular and scalable manner. Clients requiring small spaces have the option of renting units starting from a 100 sq.m and companies that need bigger spaces can combine multiple units. Instead of investing in large warehouse space in the initial stages of a business, investors now have an option to take small spaces and expand it in a modular manner according to their business growth. Smart Warehouses launched in October of 2012 has seen an overwhelming response with all the units booked. We are now in the process of launching phase two to accommodate the growing demand”, added Somaiya

About Ajman Free Zone Authority:

Ajman Free Zone (AFZ), established in 1988, was granted autonomous status under the decree no. 3 of 1966 issued by H.H. Sheikh Humaid Bin Rashid Al Nuaimi, Ruler of Ajman. Ajman Free Zone Authority has been named as the sole regulatory agency for Free Zone in the Emirate.

Situated at the foot of the Arabian Gulf, the Ajman Free Zone is widely regarded as the ideal depot for the supply of goods and services for both domestic and regional markets around UAE. The inexpensive energy and the absence of bureaucratic complications, coupled with the availability of numerous infrastructure facilities, have attracted many investors to base their operations in Ajman.

With Ajman Free Zone celebrating 25 years of business excellence, encouraging industries and entrepreneurs, it looks forward to further strengthening ties with India and the business community.