Senior dignitaries of the Ajman Free Zone Authority (AFZA) visited Toronto to encourage Canadian investors to look at opportunities in this strategically located territory in the center of UAE providing easy access to other Emirates.
AFZA, with over 7000 companies with investments of varying size and shape, is opening doors to Canadian businesses by offering all the necessary facilities and preparations to make sure that investors are furnished with the best services and products, investment privileges and opportunities in the Emirate of Ajman.
“Our aim is to initiate and build a long and lucrative means of economic cooperation between the two countries and encourage Canadian investors to explore the fields of joint cooperation with regard to investment and commercial facilities offered to the investors in the Emirate of Ajman,” said delegates on May 14.
Speaking to members of the Canadian business community at the Versailles Convention Center in Mississauga, Nader Eldesouky, AFZA Deputy General Manager, Rishi Somaiya, Director of Sales and Mr. Faisal Mowaiji, Sales Executive, said that Ajman Free Zone is deemed to be one of the fastest growing free zones in the region.
“Inexpensive energy, an extremely economic wage structure, total exemption from all import and export duties and exceptionally low handling charges gives AFZA a collective competitive edge,” stated Eldesouky and Somaiya.” Ajman Free Zone offers advantages such as 100 per cent foreign ownership and repatriation of capital and profits, no personal income-tax, low labor 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 Warehousing.
“It will keep up the effort to continue this growth as the coming era will witness more concentration on customers and services offered to them,” said Somaiya adding that “AFZA are the first to offer flexible payment facilities to its clients in up to 12 easy and convenient installments. Payment facility will act as a springboard for entrepreneurs who find entry cost to business prohibitive and result in development.”
The Business luncheon emceed by Dr. Shafiq Qaadri, Ontario Member of Provincial Parliament and attended by Amrit Mangat, MPP, Naval Bajaj, ICCC president, Samir Dossal, president of Canada Pakistan Business Council and Imtiaz Seyid, vice president RBC, presented details of opportunities offered at AFZA.
“AFZA has thrown open their door to Canadian businesses by offering investors with the best services and products. Thus, Canadian investors can avail of premium investment privileges and opportunities in the Emirate of Ajman.”
Ajman Free Zone, established in 1988 by His Highness Sheikh Humaid Bin Rashid Al Nuaimi, Ruler of Ajman, has been named as the sole regulatory agency for the Free Zone in the Emirates. Situated at the foot of the Arabian Gulf, the Ajman Free Zone is widely regarded as the ideal locale for the supply of goods and services for the domestic and regional markets. The inexpensive energy and streamlined bureaucracy, along with world class infrastructure, have attracted investors globally.
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