Free Zones Authority Of Ajman Reports Record Performance With 15% Revenue Growth In 2024

The Free Zones Authority of Ajman (FZA) has reported outstanding financial and operational outcomes for 2024. These results highlight the success of its strategic economic vision and proactive measures to diversify key sectors and improve the emirate's investment climate. A notable increase in investors and varied economic activities contributed to a 15% rise in revenues compared to the previous year.

Net profits also grew by 15%, showcasing effective financial management and successful income diversification strategies. The number of newly registered companies surged by an impressive 170%, marking the highest growth in recent years. Additionally, investment zone occupancy rates reached 97%, reflecting growing global investor confidence in Ajman's competitive advantages.

Sheikh Ahmed bin Humaid Al Nuaimi, representing H.H. the Ruler of Ajman for Administrative and Financial Affairs and Chairman of FZA’s Board, highlighted that "this exceptional performance is a direct outcome of an ambitious vision and meticulously crafted strategies designed to cultivate a flexible and enabling business ecosystem. This reinforces Ajman's position as a burgeoning economic centre with global appeal."

H.H. Sheikh Abdulaziz bin Humaid Al Nuaimi, Vice Chairman of the Board, remarked on the achievements, stating that they reflect the success of their strategic path in attracting high-quality investments and developing targeted sectors. He noted that these record-breaking figures demonstrate their ambition to make Ajman a top destination for investors globally.

Ismail Al Naqi, Director-General of FZA, expressed immense pride in these accomplishments, noting that "the results attained this year represent the most significant milestone in FZA's history." He emphasised their alignment with Ajman Vision 2030 goals, focusing on pioneering innovative solutions and developing advanced infrastructure to enhance Ajman's global competitiveness.

Al Naqi reiterated FZA's dedication to pursuing ambitious plans for expanding investments in promising sectors. He stressed their commitment to solidifying Ajman's status as a leading global economic hub and an attractive environment for businesses and diverse investment portfolios.

The remarkable achievements of FZA in 2024 underscore its effective strategies and robust financial management. By fostering a supportive business ecosystem, Ajman continues to strengthen its position as an appealing destination for international investors, contributing significantly to its sustainable economic development.

With inputs from WAM