Licensed companies and small and medium enterprises (SMEs) accounted for a combined 51% of Ajman Free Zone’s (AFZ) total procurement of goods and services in 2021, a recent report released by the free zone showed. 

 

The report also revealed that 24% of the total purchases and contracts made last year by companies operating in the free zone were sealed through the assistance of the free zone’s strategic procurement strategy. On the SME sector alone, considered the backbone of the national economy, AFZ covered 27% of their total purchases and contracts during the same year.

 

AFZ’s overarching procurement support programme reflects its efforts to boost the growth of businesses and attract more investments. The policy has been implemented to accelerate the national economic development and strengthen the role of the local business community in the diversification and sustainability efforts of Ajman and the UAE. 

 

Sheikh Ahmed bin Humaid Al Nuaimi, Chairman of the Board of Directors of the AFZ, said: “The report demonstrates that AFZ is fully committed to implementing policies and strategies designed to sustain a world-class investment environment in the country. As a destination of choice for investors, we will continue to lead the way in building a business-friendly eco-system that offers flexible and relevant solutions. 

 

“Our procurement policy currently benefits investors and business owners from more than 165 countries, and we aim to extend its reach as more global companies continue to make the free zone their base here in the Emirates.” 

 

AFZ’s sustainable procurement policy is also seen to boost its competitiveness. The policy complements its integrated packages of exclusive business services, facilities and other innovative solutions.-- TradeArabia News Service