News developments
Ajman: New Free Zone to be Established
Arabian Business, 14 January 2024: Ajman’s Ruler has issued an Emiri Decree to establish a new free zone in the Emirate.
Ajman Emiri Decree No. 15/2023 establishes the Ajman Centre for New Projects (Free Zone).
It will report to the government and will have its own legal personality as well as financial and administrative independence.
It will have legal capacity to achieve its objectives and exercise its powers and duties.
The Centre will be responsible for improving the Emirate’s position as a leading investment destination, attracting more foreign investment across various economic activities and helping to develop its capacity as a developed hub for global trade.
It will also be responsible for contributing to boosting the Emirate’s sustainable economic diversification and growth by encouraging all types of economic and investment projects.
In addition, it will be responsible for creating a flexible and conducive investment climate for creative and innovative projects.
They have also issued Ajman Emiri Decree No. 1/2024 appointing Sheikh Mohammed bin Abdullah bin Sultan Al Nuaimi as the Centre’s Chairman.
Both Emiri Decrees will be published in the Official Gazette and come into force on their issued date.
Also reported in Al Bayan on 15 January 2024. Click here to read more.
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