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The Emirate of Ajman, located on the western coast of UAE was formed by the Al Nuaim tribe, well known for their bravery, courage and wisdom who migrated to this region from Oman around 1775. The economy of Ajman in the past was mainly based on its strong maritime tradition – fishing and trade, though the wise Rulers always encouraged various other allied activities such as shipbuilding, pearl diving and trading. Its dhow building yard is the largest in the Emirates and continues to operate despite being dwarfed by modern developments such as the major dockyard. The modern era in Ajman began with H.H. Late Sheikh Rashid Bin Humaid Al Nuaimi who initiated various structural changes in the administrative network introducing scientific methodology. He played a pivotal role in the formation of the Federation of the Emirates. The implementation of all his ideas were left to the then Crown Prince H.H. Sheikh Humaid Bin Rashid Al Nuaimi who succeeded his father in 1981 assuming full charge of the transformation of Ajman to a modern emirate, well equipped with all the necessary facilities and services. Today, Ajman is witnessing a flurry of construction activities in the industrial areas, the port and Al Zawra, which is an indication and reflection of spectacular economic growth in the emirate. Despite the absence of oil, Ajman continues to develop its infrastructure and broaden its economic base.
The formation of the Free Zone Authority in 1996 has given great impetus to industrial activity in the Free Zone which has resulted in quadruple growth in the number of companies during the last few years. Strategically situated at the entrance of the Arabian Gulf, Ajman Free Zone is well placed to serve the eastern and western markets. Ajman’s proximity to Sharjah and Dubai provides easy accessibility to the two international airports and four ports. Ajman Port, serving over 1000 vessels in a year, has emerged as an important maritime focal point today. With its package of unbeatable advantages is widely recognized as entrepreneurs’ haven today.
The main economic factors of Ajman projecting itself as the Investors’ haven are:
- Strategic and central location with easy access to Dubai, Sharjah & Ras Al Khaimah
- Free Zone advantage
- Ready/easy availability of raw material
- Competitive handling charges
- Lower prices of land and office rents
- Low cost of living
- Conducive business environment
- Modern infrastructure
- Monthly Installment facility by way of postdated cheques