Pakistani companies are taking full advantage of business opportunities in the Middle East by establishing their presence in AFZ, said AFZ Head of Customer Service Ali Hussain Fahmi. PHOTO: RASHID AJMERI/EXPRESS
KARACHI: Highlighting the interest of Pakistani investors in the United Arab Emirates’ Ajman Free Zone (AFZ), Head of Customer Service Ali Hussain Fahmi said that out of the total registered companies in the zone, over 20% belong to Pakistanis, making Pakistan the second largest investor.
“This huge share of Pakistani companies in AFZ is a testimony of mutually beneficial business opportunities that exist between the two countries,” he said while speaking to the media at the Karachi Press Club on Wednesday.
Pakistani companies are taking full advantage of business opportunities in the Middle East by establishing their presence in AFZ, Fahmi remarked.
Replying to a question, he said that his team has visited various countries in different continents, including the leading economies of Europe to lure investors. They also visited India last year and organised some road shows.
He added that AFZ is offering a three-year visa to investors and two-year visa to the employees.
While urging Pakistani investors, he said that investors from around the globe are taking interest in setting up their businesses in AFZ because of the facilities and the cost of business operations.
A high-profile two-member delegation from AFZ will meet Pakistani investors at a seminar on Thursday to further explore the growing investments from Pakistan.
AFZ is also planning a road show for Pakistani businessmen, entrepreneurs and investors who like to spread their operations internationally, especially in the Middle Eastern region, where the UAE serves as a springboard and a centre point to enter the regional markets.
During their visit, AFZ officials will meet potential investors from various industries, trade and services sector and showcase the facilities and business opportunities.
“The convenient set-up solutions, a diverse range of licensing options along with tax-free operations are some of the core subjects to be discussed with the prospective investors,” Fahmi said.
He said that the UAE has won the bid for Expo 2020 owing to which a staggering 20 million visitors are expected to visit the emirate. Pakistan is well poised to take advantage of the economic activities in the UAE and in the Middle East region.
He pointed out that AFZ offers trading licences and investors can benefit from an array of facilities ranging from smart office (desk space), offices, warehouses and land.
AFZ Head of Financial Planning Division Abdallah Yehia Gohar said that for large-scale industrial and manufacturing units, which intend to build their own structure to suit their industrial requirements, the land is leased for a period of 20 years.
Published in The Express Tribune, February 19th, 2015.
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