KARACHI: Around 2,000 Pakistani companies are operating in Ajman’s Free Zone (AFZ) in UAE, and they are increasing by 20 per cent annually.

Out of total registered companies in AFZ, over 20pc belong to Pakistanis, making it the second largest investor group by country in the zone, Ali Hussain Fahmi, Head of Customer Service, AFZ, said while responding to Dawn queries.

He said Pakistan, India, Russia, China and Europe were five major investors in the zone.

After going through the website of AFZ, it was revealed that the number of new companies stood at 925 in 2010, 789 in 2011 and 948 in 2012.

He said some 2,850 new companies arrived in 2013 followed by 3,370 in 2014.

“We are building the Phase 4 of our smart warehouse which will be suitable for manufacturing and storing and Pakistani investors are always in touch with Ajman zone. We are a good hub for Pakistani investors to export their products all over the world,” Fahmi said.

Earlier, Fahmi told media persons at Karachi Press Club on Wednesday that investors from Pakistan are operating in trade and services besides opening warehouses. The share of investment in industries is comparatively less than trade and services.

A two-member delegation from AFZ will meet Pakistani investors in a seminar on Thursday to lure investment besides discussing convenient setup solutions and diverse range of licensing options along with a tax free operation.

After UAE won bid for Expo-2020, a staggering 20 million visitors are expected to visit UAE.

Ajman zone offers 100pc foreign ownership with the facility of 100pc repatriation of capital and profit. There is no personal income tax for investors at AFZ .

He said AFZ offers Trading Licences (also known as commercial licence) for import and export, service licences, industrial licence and national industrial licence.

Published in Dawn, February 19th, 2015

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