Ajman Free Zone and Kazakh National Investment & Exports (Kaznex Invest) have signed a memorandum of understanding and co-operation which paved the way for two other similar important agreements with SaryArka special Economic Zone in Karaganda Province, and Port-Aktau, another special economic zone in Mangystau Province, on the other.
Under the agreements, Ajman Free Zone will spearhead and investigate jointly the management, operations and investment opportunities through its experience and capabilities in the areas of foreign investments and inward investments in the said specialised economic regions jointly with the authorities.
The agreements will also see the parties exchange relevant information on the specialised economical zones including on attracting investment, and on investment projects (actual and planned), general statistics and analysis, market research results as well as state regulatory and investment measures. They will also share experience in attracting investment through presentations, seminars, training courses and scholarships.
The agreements also provide for joint information support for implementing various types of activities in Kazakhstan and U.A.E. for promoting mutual investment through forums, exhibitions.
The parties will make join efforts to develop priority sectors such as light industries, construction, mechanical engineering ,metal industry and chemical industries, bilateral trade development.
Mahmoud Khalil Al Hashemi, General Manager of Ajman Zone said, "With 25 years of experience in Ajman Free Zone, we have proudly exhibited our successful performance in investment management and operation of free zones." "Our plan includes comprehensive guidelines related to ensuring the provision of better management and investment services for clients and investors in the Kazakh economical zones" He further added," Our aim is to provide services to SaryArka specialised economical region in Karaganda Province and to Port Aktau specialised economical region in Mangystau Province. This will stimulate the provision of premium quality services through identifying the roles and procedures related to all parties involved in Investment and portfolio management." "Ajman free zone seeks to create opportunities and set development programs to attract capital and investments. We are experiencing a wild growth and a attracting select industries, companies engaged in trade activities companies and services providers.
Ajman has strengthened it's position on the global economy map in the past few years. Ajman has become a global investment destination as it took advantage of it's geographical location, climate and unique culture to enhance it's economy," Al Hashemi added