A recent report released by the Ajman Free Zone (AFZ) has revealed that the licensed companies and small and medium enterprises (SMEs) accounted for a combined 51 percent of the free zone’s total procurement of goods and services in 2021.
The report also showed that 24 percent of the total purchases and contracts made in 2021 by companies operating in the AFZ were sealed through the assistance of the free zone’s strategic procurement plan.
On the SMEs sector, the backbone of the national economy, the Ajman Free Zone covered 27 percent of their total purchases and contracts during the same year.
“The report demonstrates that Ajman Free Zone 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.”
The free zone’s overarching procurement support program reflects its efforts to boost the growth of businesses and attract more investments. The policy has been implemented to fast track the national economic development and to strengthen the role of the local business community in the diversification and sustainability efforts of Ajman and the UAE.
Ajman Free Zone’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.