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Ajman Free Zone records 35% higher number of new companies in H1-21

Ajman Free Zone records 35% higher number of new companies in H1-21
The free zone saw an 84% increase in new companies in the health sector

UAE - Mubasher: The total number of companies newly registered in the Ajman Free Zone grew by 35% to 867 during the first half (H1) of 2021, compared to 567 in the same period of 2020.

The free zone saw an 84% increase in new companies registered in the health sector in the first six months of 2021, driven by the AFZ's competitive advantages, including the strategic location, advanced infrastructures, and modern facilities, according to a recent press release.

Meanwhile, the technology sector in the free zone recorded a growth rate of 26% year-on-year (YoY) in H1-21, while the food and beverage sector achieved 11% growth.

The free zone also saw a 70% YoY growth among Chinese businesses in terms of the number of companies in the first six months of 2021

The Chairman of Ajman Free Zone, Sheikh Ahmed bin Humaid Al Nuaimi, said: "As we continue our efforts in diversifying our economy, we will continue to provide opportunities and support to vital economic sectors to empower them as effective partners in achieving sustainable development in line with the Ajman Vision 2021."

Meanwhile, the Director General of Ajman Free Zone, Ali AlSuwaidi, commented: "Ajman Free Zone follows a five-year strategy in creating an attractive business environment in terms of updated policies and regulations. This is positively reflected in the recorded numbers of new companies and investors."