Saturday 6 June 2020

Sheikh Ahmed bin Humaid Al Nuaimi

New incentives launched for AFZ companies

AJMAN, March 31, 2020

Sheikh Ahmed bin Humaid Al Nuaimi, Chairman of Ajman Free Zone (AFZ), has issued a decision to introduce a package of economic incentives for AFZ, China Mall, and its affiliates. The aim is to alleviate the economic effects the world is experiencing today and its implications for business.
These incentives include several features such as reducing and eliminating certain fines and fees, as well as adding new facilities. These will also serve the emirate’s economy and will ensure the continuity of businesses of all sizes.
Sheikh Ahmed expressed his keen desire to create a business environment in the Free Zone that can prosper during the current pandemic.
He commented: “These incentives were launched because of our strong commitment to business continuity, we are keen to spread the spirit of hope and optimism and support the business community. We have full confidence that these incentives will be a driving force in enabling them to achieve their desired goals.”
The list of incentives is as follows:
*Licences renewed are exempt from licensing fees and late renewal fines;
*In the case of licence cancellation, the company will receive a 50 per cent discount on accumulated fines;
*Cheque services fees waived for 3 months;
*An easy instalment payment plan;
*Labour accommodation rent fee reduced by 25 per cent; and 
*For new companies, AFZ will cover the cost of their E-Channel Warranty (Dh5,000).
“We are delighted to offer these facilities as it is a message of reassurance to companies that they should continue their work as the Free Zone is standing by them. We are confident that, in light of the current situation, these incentives will help all entrepreneurs and investors overcome these difficult times,” Fatma Salem, Acting General Manager of AFZ.
AFZ has more than 8,000 companies with more than 30,000 investors who will benefit from these economic incentives that will contribute to the continuity of business momentum in the Free Zone, the Chinese market, and other affiliated sectors.
AFZ is heavily invested in comprehensive development of the Emirate of Ajman by continuously evolving its services to match the changing demands of the business community. It currently accommodates investors representing 140 plus nationalities and does so by enabling their businesses with a streamlined and hassle-free set-up process at competitive rates, and a wealth of products and supporting services. -- Tradearabia News Service


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