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AJMAN/WAM
The Ajman Department of Economic Development and the Ajman Free Zones Authority have released an economic report detailing the volume of investments between the People’s Republic of China and the emirate of Ajman. This report coincides with the celebration of the 75th National Day of China.
The report revealed that the volume of investments between China and Ajman reached AED26.5 million in 2023, marking a 9 percent increase compared to 2022. The value of trade during the first half of this year amounted to AED9.3 million, according to statistics from the Ajman Chamber of Commerce.
The report also highlighted that the number of Chinese investors in Ajman reached 613, operating in various economic sectors, with a growth rate of 36 percent over the past three years. This indicates a significant increase in Chinese investments in the emirate.
Abdullah Ahmed Al Hamrani, Director General of the Ajman Department of Economic Development, stated, “We congratulate the friendly nation of China, its leadership, and its people on the occasion of their National Day. The UAE and Ajman, its leadership and people, share their joy and are keen on developing economic relations and enhancing trade exchanges, which contribute to driving economic development and strengthening economic partnership opportunities.”
Al Hamrani emphasised the department’s dedication to developing economic relations with China, in line with the directives of HH Sheikh Humaid bin Rashid Al Nuaimi, Supreme Council Member and Ruler of Ajman, and the follow-up of HH Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman and Chairman of the Executive Council, by providing all necessary facilities for Chinese investors, opening new business opportunities, and enhancing economic relations.
Al Hamrani added that statistics show the development of relations between Ajman and China, as the number of economic licences owned by Chinese investors has increased by 173% over the past three years. He noted that the primary economic activities of Chinese investors include general trade, IT network services, and the hospitality sector.
Ismail Al Naqi, Director General of the Ajman Free Zones Authority, said, “The historic relations between China and the UAE represent a model of deep strategic partnership that encompasses various fields, foremost among them investment and trade. We at the Free Zones Authority are proud to be part of this growing relationship based on cooperation.”
He continued, “In recent years, we have seen a noticeable increase in the number of Chinese investors. These partners have not only contributed to enhancing economic development in the emirate but have also brought expertise and technologies that support our efforts in achieving sustainable growth and continuous development. We are committed to providing a flexible and supportive investment environment that allows investors to achieve their ambitions, continue their successes, and ensure a bright future for all.”
Investors praised the efforts of the Ajman government in providing an attractive investment environment supported by legislation and laws that contribute to the success of businesses and projects. They also appreciated the incentives and facilities offered through the electronic services portal, which have attracted investors and helped their projects succeed and grow.
Arson Hui, Assistant General Manager of the China Market in Ajman, stated that the “China Market” symbolises the Chinese-Emirati relations through its significant role in supplying markets with Chinese products. The market stands out as a large commercial centre offering visitors a unique shopping experience with a wide range of products at competitive prices, making it a favourite destination for many shoppers.
He mentioned that Hunan Bosson Industrial Company is a major supporter of the China Market’s development, driving it to become a key engine of economic growth in the region. The market spans a vast area and includes many stores offering various goods, including clothing, electronics, furniture, household items, and daily necessities. The market is renowned for its diverse and high-quality products, attracting visitors seeking both quality and affordability.
Arson praised the Chinese-Emirati relations, noting that the consistent growth of Chinese trade in Ajman through the China Market reflects the market’s role not just in offering Chinese products but also in showcasing Chinese culture to visitors. He congratulated the government and people of China on their National Day, wishing for prosperity and peace for his country, and valuing the continuous development of the friendship between China and the UAE.
Chinese investor Wang Tao praised Emirati-Chinese relations, stating that the facilities provided during his 11 years of work at the China Market in Ajman encouraged him to develop and grow his trade, which started as a small shop and has now expanded due to high demand for Chinese products.
Chinese investor Mark Chang commended the government services provided by the Ajman government to investors, noting that the government works diligently to provide an ideal work environment for investors by simplifying administrative procedures and offering full support through various departments in Ajman. He said, “I have been working in the musical instrument supply field for ten years and have seen significant improvements in simplifying government and digital services during that time. The China Market provided excellent services and ample space, and the services offered by the Ajman Free Zone have helped increase my trade volume.”
On the occasion of China’s National Day, Chang expressed his hope for the development of relations between China and the UAE, noting that the increasing number of Chinese investors reflects the satisfaction with working and investing in the UAE.
Young Chinese investor Chen Qi Peng stated that investing in Ajman through the China Market encourages many young people to come to the UAE and work there due to the ease of government services and the welcoming economic environment for investors. He said, “I inherited business knowledge from my parents, and after graduating, I chose the UAE to start my business journey in Ajman, where I opened a shop. I found many young Chinese people developing their businesses in the China Market due to high demand for Chinese products and the attractive environment provided by the Ajman government.”