Ajman tries to woo Pakistani investors

AFZA officials are visiting Pakistan to convince local business community.

KARACHI: Following the footsteps of Ras alKhaimah, another state of United Arab Emirates (UAE), Ajman is now trying to woo Pakistani investors, who are facing one of the worst security and energy crises.

Ajman Free Zone Authority’s (AFZA) officials are currently in Pakistan to reach the business community.

“Pakistani investors are taking keen interest in setting up their businesses in AFZA,” Ali Hussain Fahmi, head of customer service, AFZA said at a press conference on Monday at the Karachi Press Club.

“We are here to attract Pakistani investors as we are doing in other countries. Our initiative is not only Pakistan specific,” said Fahmi.

He dispelled the impression that different emirates of UAE were keenly eying Pakistani companies who want to leave the country owing to security issues and energy crisis.

According to Fahmi, there are more than 7,200 companies registered at AFZA from around the world and Pakistani businesses rank amongst top five AFZA’s registered businesses. This free zone was established 25 years ago in 1988.

In response to a question, Fahmi said that this will be a good opportunity for Pakistani workforce because of the swift system of visa issuance.

Industrial and manufacturing units who intend to build their own structure, land area is leased for a period of 20 years. This 20-year contact was renewable for another 20 years guaranteeing 40 years of tax and customs free operations.

Published in The Express Tribune, February 26^th, 2013.

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