Humaid Al Nuaimi ssues Decree to Establish Ajman Center for New Projects
Two royal decrees have been issued by His Highness Sheikh Humaid bin Rashid Al Nuaimi, the Ruler of Ajman and a member of the Supreme Council, regarding the establishment of the Ajman Center for New Projects. The decrees also appoint Sheikh Mohammed bin Abdullah bin Sultan Al Nuaimi as the head of the center.
According to the first decree, a free zone named the “Ajman Center for New Projects” will be established, affiliated with the government of the Emirate of Ajman. The center will have legal personality, financial and administrative independence, and legal eligibility.
The center aims to enhance the emirate’s status as a leading investment destination, contributing to its transformation into a prominent global trade hub. It also seeks to drive sustainable and diversified economic growth in the emirate by encouraging economic and investment projects across all sectors and activities, as well as attracting more foreign investments.
The center is responsible for proposing legislation related to it, in collaboration with relevant local authorities. It works to regulate the investment environment, oversee facilities within the center, establish public facilities, and develop services.
According to the decree, the center coordinates with security authorities to provide security and emergency services within the center. It oversees the regulation of cargo movement, allows the establishment of companies within the country or contributing to companies related to its activities. The center also has the right to invest its funds in various commercial, financial, service, industrial, tourism, and real estate sectors.
Ajman Center Plans
The Ajman Center is responsible for organizing and preparing studies, plans, and programs related to its areas of specialization. It manages events and activities related to the economic and investment sectors at both the national and international levels. The center possesses the necessary assets, whether movable or immovable, to efficiently carry out its tasks, and it can invest in various fields in accordance with local regulations. Ajman Center also organizes partnerships and agreements, and coordinates with local, federal, regional, and international entities, including other free zones inside and outside the country. The center also assumes any additional tasks related to its areas of specialization, as assigned by the Ruler or Crown Prince.
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