BWI: Ajman Free Zone Authority (UAE) Paves Way to Strengthen Economic Ties with India

Press release from Business Wire India
Source: Ajman Free Zone Authority
Tuesday, February 26, 2013 06:48 PM IST (01:18 PM GMT)
Editors: General: Consumer interest, Economy, People; Business: Banking & financial services, Business services, Construction, Financial Analyst
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Ajman Free Zone Authority (UAE) Paves Way to Strengthen Economic Ties with India


New Delhi, Delhi, India, Tuesday, February 26, 2013 -- (Business Wire India) -- The capital witnessed a high-profile delegation of dignitaries from the Emirate of Ajman. His Excellency Mahmood Al Hashemi, Director General of Ajman Free Zone Authority (AFZA), UAE, Rishi Somaiya (Sales Director), Mohammed Salem (Sales Executive) and spokespersons from the Federation of Indian Chambers of Commerce and Industry (FICCI) were at the Shangri-la Hotel today. The purpose of the visit was two-fold; to meet potential Indian investors to Ajman and elaborate on the diverse investment options through AFZA. The press conference which was held on the same day saw the very same delegation address the Indian media and highlight their plans to build long and lucrative means of economic and social co-operation between the two countries.

The Ajman Industrial and Trade Free Zone have been organized in such a manner that different types of industries and business activities can be easily shipped from the Ajman port to their destinations. 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. 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.

Says H.E. Mahmood Al Hashemi, "Ajman Free Zone the fastest growing free zones in the region. AFZA has over 7000 companies with investments from Indian investors exceeding over 40%. 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." 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.

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. Other advantages include; cheap energy, the most economic wage structure and easy access to the vast work force, total exemption from all import and export duties, total elimination of all service charges and hidden fees and exceptionally low handling charges. The 20 year land contract is renewable for another 20 years, guaranteeing 40 years of tax and customs free operations, lowest lease prices and world class infrastructure."

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.



CONTACT DETAILS
Eshant Arora, Assistant Account Director, Value 360 Communications, +91 9891255258, eeshant@value360india.com
Jayati Agarwal, Management Trainee, Value 360 Communications, +91 8285313314, jayati@value360india.com

KEYWORDS
CONSUMER, ECONOMY, PEOPLE, BANKING, BUSINESS SERVICES, CONSTRUCTION, Financial Analyst

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