Sunday, June 6, 2021 – 3:21 pm
AJMAN, June 6 / WAM / His Excellency Eng. Abdullah Al Muwaiji, Chairman of the Board of Directors of the Ajman Chamber of Commerce and Industry, confirmed that the decision to open the Emirate of Ajman with 100% freehold ownership in front of foreign investment, translates the vision of our wise leadership and its relentless endeavor to provide a flexible and supportive legislative environment for establishing businesses and owning Companies, in a way that enhances the country’s competitiveness and attractiveness to foreign direct investment.
He said that with the opportunity for free ownership in more than 1,000 commercial activities in the Emirate of Ajman, the decision provides an important forward-looking vision for the future of the various sectors, and enhances their readiness to deal with all the variables and requirements of the economic sector in the emirate in particular and the UAE in general, and greatly supports growth and development opportunities. Business and companies, and its ability to expand in all global markets.
For his part, His Excellency Salem Al Suwaidi, Director General of the Ajman Chamber of Commerce and Industry, stressed that the decision reflects the state’s efforts to support the business community and investors and provide the economic sector with diverse and dynamic components that keep pace with the aspirations of traders, businessmen and foreign investors, by developing legislation and laws in a way that contributes to diversifying the competitiveness of the UAE economic sector regionally and globally. .
He explained that the consequences of the decision will contribute directly to attracting foreign direct investment, raising the contributions of the industrial, commercial and service sectors to the GDP, opening new horizons for the availability of jobs and attracting talented and experienced people. The decision also supports the circulation of residents’ savings in productive projects with economic returns.
“The decision is directly related to the growth of industrial projects and service technology, which is reflected in the increase in the volume of exports, the trade balance and economic growth, as well as on the welfare of community members, in addition to accelerating the pace of economic recovery during the coming period,” he said.
He added that the decision constitutes a qualitative leap for the economic sector in the Emirate of Ajman, and keeps pace with the Emirate’s strategic vision and objectives for sustainable economic development, which are based on diversifying sources of income, attracting investors and new entrepreneurs, and thus raising the contribution of the Emirate of Ajman to the UAE’s GDP.
Wam / Amina Khamis / Abdel Nasser Moneim