AJMAN, (Pakistan Point News - 02nd Jun, 2021) The Department of Economic Development in Ajman (Ajman DED) has opened 100% ownership of economic activities in the commercial and industrial sectors to foreign investors.
In this regard, the department has approved over 1,000 economic activities for foreign investment, except those with a strategic impact, which were agreed upon during the meetings of the Strategic Impact Economic Activities Committee under the Ministry of Economy. Details of such activities will be announced at a later date.
This step aligns with the UAE's strategic vision of promoting a competitive modern and global investment environment, and the recent amendments to the Commercial Companies Law and in implementation of the decision of the Ajman Executive Council in this regard.
H.H. Sheikh Ahmed bin Humaid Al Nuaimi, Representative of H.H. the Ruler of Ajman for Administrative and Financial Affairs and Chairman of Ajman DED, said, "This decision is an important step that translates the new government's policy and strategic vision by providing competitive infrastructure for investment, and will contribute to facilitating doing business and increasing the attraction of foreign direct investment to various vital sectors in the emirate of Ajman. We will always strive to provide the appropriate investment environment for investors."
Abdullah Ahmed Al Hamrani, Director-General of Ajman DED, said, "The department has prepared a policy of foreign investment and external promotion, which aims to enhance the investment environment in the emirate and provide a competitive investment environment, which should be continuously and periodically promoted to attract global investments. In line with its quest to develop and improve the investment environment, the department periodically reviews, in cooperation with its strategic partners, the incentives and facilities granted to investors, and constantly communicate with the business community to provide quality and competitive services."
