UAE - Mubasher: Ajman Free Zone (AFZ) has raised its procurement support to the free zone-based investors by 7% year-on-year (YoY) in the first five months of 2020 to stimulate economic growth.
The free zone has supported 22% of its investors' total purchases and contracts made during the January-May period, according to a press release on Sunday.
As for small and medium-sized enterprises (SMEs), 12% of their total purchases and contracts were covered by Ajman Free zone as part of its objective to diversify the UAE economy.
The free zone, a hub for national and international companies, entrepreneurs, and investors, has adopted sustainable procurement policies to facilitate the execution of contracts and purchases with its companies and SMEs and promote competitiveness.
The Director General of Ajman Free Zone, Ali Abdulla Bin Towaih Al Suwaidi, commented: "In line with the directives of His Highness Sheikh Ahmed bin Humaid Al Nuaimi, Chairman of Ajman Free Zone, to empower local business community and foster investment environment, Ajman Free Zone’s procurement support is extended to investors and business leaders from more than 145 nationalities."
