Ajman Free Zone chief says initial focus this year will be on Asia and Europe
Ajman Free Zone (AFZ) has announced a new initiative through its overseas offices to woo small and medium enterprises (SMEs) looking to tap the local and re-export potential of the Middle East and North Africa (MENA) markets.
In a statement, AFZ said the global SME drive has been launched with the aim of increasing the free zone’s existing SME portfolio of investors by at least 30 percent in 2017.
“We believe the salience of AFZ’s investment solutions, tailor-made for SMEs in terms of its low initial investment thresholds followed by installment-based flexible payment mechanisms offer exactly what these entrepreneurs are looking for,” said Mahmood Al Hashemi, director general, AFZ.
"SMEs are the undisputed engine of growth in many economies of the world and in our roadshows and interactions we have come face to face with a number of SME entrepreneurs who have expressed their intention to have a global hub, either through a small representative presence or through e-commerce license route, but were wary of venturing because of high investment costs," he added.
He said that the global SME drive of AFZ was particularly focused on Asia and Europe this year.
AFZ said it currently houses in excess of 15,000 SMEs now within its premises.
“The main focus of our SME imitative will be to target companies in the exports, trading and e-commerce space. The advent of digital technology is a major boon for SMEs since they can do business cost-effectively across the world,” said Rishi Somaiya, sales director, AFZ.