The Ruler of Ajman, Sheikh Humaid bin Rashid Al Nuaimi, has issued two Emiri Decrees to pave the way for this development. Emiri Decree No. (15) of 2023 establishes the Ajman Centre for New Projects (Free Zone), while Decree No. (1) of 2024 appoints Sheikh Mohammed bin Abdullah bin Sultan Al Nuaimi as its Chairman.
Ajman's New Free Zone Unveiled
Ajman, a key emirate in the United Arab Emirates (UAE), is set to elevate its economic landscape with the establishment of a new free zone. Sheikh Humaid bin Rashid Al Nuaimi, the Ruler of Ajman, has issued two significant Emiri Decrees, No. (15) of 2023 and No. (1) of 2024, to lay the groundwork for this revolutionary development.
Ajman Centre for New Projects (Free Zone)
Under this decree, the Ajman Center for New Projects (Free Zone) is to be established within the emirate. This entity, affiliated with the government, is granted legal personality, financial and administrative independence, and the requisite legal capacity to achieve its outlined objectives and fulfill its powers and duties.
Objectives of the Center
- Elevating Investment Destination: Enhance Ajman's position as a leading investment destination.
- Global Trade Hub: Contribute to advancing Ajman as a developed hub for global trade.
- Economic Diversification: Boost sustainable economic diversification and growth by encouraging projects across all fields.
- Foreign Investment: Attract more foreign investment across various economic activities.
- Investment Climate: Create a flexible and conducive investment climate to foster creative and innovative projects.
Decree No. 1 of 2024
In tandem with the establishment of the Ajman Centre for New Projects, Sheikh Mohammed bin Abdullah bin Sultan Al Nuaimi has been appointed as its chairman. This appointment signifies a key leadership role in steering the free zone's initiatives and contributing to their success.
Strategic Impact
These decisive decrees underscore Ajman's commitment to economic diversification, innovation, and global competitiveness. The creation of a free zone is poised to attract local and foreign investors, positioning Ajman as an attractive destination for business growth and development. With legal autonomy and strategic objectives, the Ajman Center for New Projects is poised to play a pivotal role in shaping the emirate's economic future.
