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Ajman Free Zone (AFZA) (Arabic: منطقة عجمان الحرة) is a free trade zone and one of the designated freezones located in Ajman, United Arab Emirates (UAE).First established in 1988, it is one of a number of unbonded free zones in the UAE offering offshore company setup and operation to investors.
A free zone authority is a designated economic area governed by its own set of regulations, which differ from those applicable to businesses outside the zone. Companies operating within free zones are typically non-customer-facing businesses, such as those involved in import/export, online operations, and other business activities that do not ...
[80] [81] [82] Exporting to over 65 countries, the Free Zone has some 256 industrial companies and more than 12,000 companies operated in it. [83] [79] [84] The business activity in Ajman Free Zone grew at an annual growth rate of about 23%, while the licenses issued grew from 1590 in 2009 to 2386 in 2011. The number of issued licenses by Ajman ...
The establishment of designated freezones in the United Arab Emirates (UAE) traces its roots to the nation's strategic vision for economic diversification.In the late 20th century, recognizing the need to reduce reliance on oil revenue, the UAE embarked on a deliberate initiative to create economic zones that would attract foreign investment, promote international trade, and foster innovation.
Terms include free port (porto Franco), free zone (zona franca), bonded area (US: foreign-trade zone), free economic zone, free-trade zone, export processing zone and maquiladora. Most commonly a free port is a special customs area or small customs territory with generally less strict customs regulations (or no customs duties or controls for ...
4.17.3 Ajman. 4.17.4 Fujairah. ... Tanger Free Zone [1] Atlantic Free Zone Kenitra; ... Dubai Multi Commodities Centre; Dubai Airport Freezone;
With the capacity to accommodate 1500 companies and serving over 1,000 vessels a year, Ajman Port and Ajman Free Zone are major contributors to the emirate's economy. Exporting to over 65 countries, the Free Zone's companies make up approximately 20% of the UAE's overall industrial units, with some 256 industrial companies operating from the zone.
Free zones in Dubai are managed and operated by the relevant authority. For instance, the Jebel Ali Free Zone Authority in Dubai is responsible for managing, operating and supervising the Jebel Ali Free Zone, one of the largest seaport free zones in Dubai. It has a subsidized rate of 32 percent on the country's Foreign Direct Investment (FDI).