AJMAN, 10th March, 2022 (WAM) — Ajman Free Zone has announced the 2021 operational performance of Ajman China Mall, which recorded a significant growth of 12 per cent in the number of registered companies compared to 2020.
Out of 1,000 enterprises operating in the mall, the retail sector topped the list followed by the fashion and textile sector.
The growing number of companies in the fashion and textile sector proves that it is one of the country’s largest industries, driven by consumer trends, high supply capacity, and robust e-commerce in Arab countries. Enterprises operating within Ajman China Mall benefit from Ajman Free Zone’s strategic location for importing and exporting products.
As of 2021, diverse enterprises in Ajman China Mall registered over 2,600 members of the Chinese business community, significantly contributing to the economic growth and employment market for Ajman.
The strong operational performance reflects the importance of Ajman China Mall in boosting economic growth in the emirate. Its yearly import value reaches an average of AED 3.65 billion, with export products valued at AED 2.1 billion. Leveraging its strategic location and facilities, Ajman China Mall is an ideal investment destination. It has recorded AED 600 million of total investment and is projected to reach double as the emirate continues to diversify its economy and venture into more trade agreements.
Further, Ajman China Mall recorded an average of 342,000 monthly visitors with total daily sales valued at more than AED 1.7 million in 2021. These numbers are projected to a sustainable growth as Ajman China Mall further enhances its facilities to attract more shoppers and businesses alike.
Sheikh Ahmed bin Humaid Al Nuaimi, Chairman of the Board of Directors of the Ajman Free Zones, said, “The results recorded by the free zone over the past year highlight further the significant role of AFZ as an ideal hub for the Chinese business, investment, and corporate community. The remarkable growth manifests the successful and strategic partnership between AFZ and GCTC (Gulf Chinese Trading Corporation). We also want to thank our Chinese partners for their continued trust and confidence. In addition, AFZ will continue to support this partnership through our comprehensive products, services, and facilities, which remain committed to further enhance our services to meet the aspirations and needs of the various business sectors operating within Ajman China Mall.”
Luo Feng, General Manager of Ajman China Mall, expressed that the 2021 statistics reflect the unique charm of Ajman Free Zone in attracting Chinese investors, which greatly promote the economy and trade between China and UAE. “With twelve years of hard work, GCTC has become a representative of outstanding Chinese enterprises investing in Ajman. We believe that under the care and guidance of Sheikh Ahmed bin Humaid Al Nuaimi, Chairman of the Board of Ajman Free Zones Authority, Ajman China Mall will achieve greater success in the future, and we are also ready to respond to the call of UAE to promote diversified economic development and conduct deeper and broader economic and trade cooperation with Ajman Free Zone,” he said.
The 2021 performance results confirmed Ajman Free Zone’s leading position in attracting investments and strengthening trade and economic relations between UAE and China.