A senior delegation of Ajman Media City Free Zone (AMCFZ) led by Mahmood AlHashmi, chief executive officer, debuted an investment forum in Chennai, India, yesterday (December 11).
Ajman Media City Free Zone aims to boost investments in the UAE by creating strategic partnerships in India which is one of the strongest trade partners for the UAE for a long time, said a statement.
AlHashmi said: “The partnership is part of our global trade relation road trips where we showcased our services and solutions of investment in UAE. Establishing a business set up in UAE, one of the fastest growing markets, has become much easier and cost effective with our free zone, which is a world class free zone hub for small and medium businesses and entrepreneurs.”
Leading Chennai based business leader Jawahar Vadivelu, chairman of Cameo Corporate Services Limited and president of International Chamber of Commerce - India (ICC India) since March 2018 welcomed the delegation and opened the Chennai forum earlier today.
The event was also supported by India-ASEAN-Sri Lanka Chamber of Commerce and Industry.
Rishi Somaiyah, commercial advisor of Ajman Media City Free Zone, said: “The road-show series will give Indian business community an opportunity to review the investor-friendly options of AMCFZ.”
“It is a very good opportunity for us to meet the business owners in India and assist them in finding the right option for them,” he added.
“The three-city roadshow will give India business investors a chance to see the flexible business services and meet senior officials of the free zone, who will showcase investor friendly options for owners,” he added.
Some of the reasons which make UAE an attractive destination for entrepreneurs include:
• The UAE is blessed with a strategic location between the east and west, which makes it accessible to major emerging economies, linking shipping routes and act as a hub between the various regions in Middle East, Asia, Europe and Africa.
• UAE is a free economy meaning that anyone residing anywhere in the UAE can enjoy a virtually tax-free life. Due to the extremely people friendly taxation policy of the UAE, the Wall Street Journal gave the country a 99.9 index rating. This rating means that UAE is a very favourable place for when it comes to the degree of economic freedom, the ratio of tax level to tax payments, ease of doing business in UAE, etc. Also, UAE was listed amongst the best places in the world for labour and business alike.
• Ajman Media City Free Zone lowers the cost of doing business in the UAE. AMCFZ is developed for making the emirate of Ajman an international economic centre for investors and businesses, in line with the “Ajman 2021” vision.
• In a landmark decision, AMCFZ has abolished visa deposit mandate offers a big incentive to new business owners. The new rules will be particularly helpful to small and medium-sized companies which will experience improved cash flow to inject back into their businesses.
• With key policies, AMCFZ has become successful in lowering the cost of doing business in the UAE and making it a very attractive global centre for business owners.
To further emphasise the importance of India, AlHashmi added: “The free zone already has long-term alliance with two of the largest media conglomerates, Times of India and Hindustan Times.”
“As part of the collaboration, AMCFZ will identify value propositions, projects and events that can be localized for the UAE market and be brought to Ajman,” he added. – TradeArabia News Service
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