Ajman Free Zone logs 33% growth in new companies in Q1

Ajman Free Zone logs 33% growth in new companies in Q1

(AFZ) has witnessed a growth of 33 per cent in the number of new companies registered with it during the first quarter of this year, compared with the same period of 2020. The total number of new companies registered in the free zone reached 492 during the first three months of 2021, compared to 269 companies in the same term last year. The education sector, which includes training, educational counselling and freelancing, continued its steady growth, recording 39 per cent during the first quarter this 2021. With this, the total number of academic-related institutions and research centres now exceed 170. The technology sector also achieved a growth of 23 per cent, as a result of proactive investment efforts in the said industries. This is in line with the Ajman 2021 vision, which is diversifying the economy to become the cornerstone of sustainable development for the well-being of its residents. AFZ also proved an attractive environment for healthcare institutions. Specifically, it witnessed a 34 per cent growth in new companies registered in the health sector, thanks to advanced infrastructure, vital facilities, and a strategic location. Moreover, AFZ continued its active contribution in total exports, as well as the volume of re-exports