SMES and AFZ-based firms contribute to 56% of AFZ purchases

Ajman Free Zone (AFZ) announced that small and medium enterprises (SMEs) and other companies based within the area formed 56% of AFZ’s total purchases during the first quarter of this year.

The above figure is divided to 25% from the companies licensed in the zone and 31% from the SMEs. These indicators reflect AFZ’s commitment to provide all means to guarantee the growth and expansion of its companies, attract more investments, and enhance the diversity and resilience of the national economy.

These indicators reflect a significant growth compared to the percentage recorded during the same period of 2020, wherein purchases from SMEs amounted to 11% and from companies located within AFZ reached 21%.

AFZ believes that supporting SMEs is of great importance as they constitute the largest part of the companies doing business in the UAE. In addition, this sector is considered a vital contributor to the country’s GDP and a vital resource for the national economy.

Securing a percentage of the purchases from the local business community is an effective means to support national production, especially at the level of companies based in AFZ and Ajman as a whole.

H.E. Engineer Ali AlSuwaidi, Director General of Ajman Free Zone, said: “This contribution comes within the framework of our continuous commitment in supporting free zone companies and the business community within Ajman.

“This is in line with the government’s strategy to support national entrepreneurship and increase the momentum of SMEs, as they are the largest source of job opportunities in the private sector.

“These efforts contribute to enhancing the movement of supply and demand, as well as increasing the attractiveness and competitiveness of the local business environment. Moreover, this will boost the confidence of investors and foreign companies.”

Al Suwaidi added: “We will continue to provide all the facilities and economic accelerators as part of our efforts to empower national businesses and SMEs, all which exceeded 5,000 within AFZ.

“We will work on expanding the scope of the subsidised procurement policy to include more companies in this sector. We are positive that this will facilitate the launch of their business, increase their ability to grow and expand, and enhance their contribution as a fundamental pillar for building a more diversified and resilient economy. This will drive our transformation toward the future economy based on innovation and knowledge.”