logo
Ajman emerges as key UAE investment hub with free zones and SME growth, says report

Ajman emerges as key UAE investment hub with free zones and SME growth, says report

The emirate of Ajman continues to establish itself as a competitive investment destination within the UAE's broader economy, an industry report said.
Its strategic proximity to Dubai enables seamless connectivity to global markets while maintaining lower operational costs, making it an attractive base for small and medium-sized enterprises (SMEs) and high-growth industries, said the report, titled 'Ajman 2025', by Oxford Business Group (OBG).
'The emirate has demonstrated resilience and growth across key sectors, particularly in manufacturing, real estate, and logistics, supported by initiatives such as the Ajman Free Zone and 100 per cent foreign ownership laws,' OBG said.
It said infrastructure developments in transport and logistics, alongside the construction of mixed-use real estate projects, underline the Ajman government's commitment to diversification and economic expansion.
The streamlining of trade practices through digital solutions and regulatory enhancements is further strengthening the emirate's business environment, while increased integration of the industrial sector into global supply chains is positioning it as a competitive player in international trade, the report said.
Additionally, the emirate is leveraging its strategic location to expand its cultural and tourism offerings, reinforcing its appeal as a business and lifestyle destination.
Jana Treeck, OBG's Managing Director for the Middle East, said Ajman's strategic approach to economic diversification is reinforcing its status as a key investment destination.
'Ajman's proactive economic policies, combined with regulatory reforms and infrastructure development, are enhancing the emirate's attractiveness to investors.
'Its efforts to modernise industries and integrate digital solutions reflect a broader commitment to fostering sustainable and inclusive economic growth,' he said.
The report, developed in collaboration with the Ajman Executive Council and featuring exclusive insights from key policymakers and business leaders, covers a wide range of sectors, including macroeconomics, infrastructure, finance, manufacturing, and ICT.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Abu Dhabi named world's most tax-friendly city as UAE gains favour with the wealthy
Abu Dhabi named world's most tax-friendly city as UAE gains favour with the wealthy

Al Etihad

time3 days ago

  • Al Etihad

Abu Dhabi named world's most tax-friendly city as UAE gains favour with the wealthy

25 July 2025 00:53 ISIDORA CIRIC (ABU DHABI)Abu Dhabi has been ranked the most tax-friendly city in the world in a new report by Multipolitan, with Dubai following close behind in second place. The UAE's twin financial centres outperformed traditional financial hubs like Singapore due to their low effective tax exposure, treaty coverage and strong governance frameworks, strengthening the country's status as a preferred destination for cross-border index, published in Multipolitan's 'Wealth Report 2025 – The Taxed Generation', ranks cities located within the world's 20 most tax-efficient countries. It combines three weighted metrics — tax rates across five key categories, double taxation treaty coverage, and regulatory quality based on World Bank were included only if they met thresholds for macroeconomic and political stability, narrowing the original pool of 164 Dhabi led with a score of 637.1, just ahead of Dubai's 635.1. While both benefit from the UAE's zero personal income tax regime, the capital edged out its neighbour due to slightly lower property-related fees — transfer and municipality charges that are often seen as proxy taxes in jurisdictions without formal report's authors said their approach focused on 'real-world outcomes' rather than political rhetoric, measuring where wealth 'faces the fewest frictions'. In practice, that meant evaluating five tax categories (personal, corporate, inheritance, wealth, and capital gains), before layering in treaty networks and regulatory stability. The UAE's broad Double Taxation Avoidance Treaty network helped lift both cities on the index's second metric, while high scores on the World Bank's Regulatory Quality indicator added an extra boost to their leadership.'Dubai, Doha, and Abu Dhabi perform strongly across all three metrics, with Abu Dhabi and Dubai retaining the top position when combining tax environment an governance considerations,' the report said. 'When factoring in double taxation avoidance as an indicator of tax system accessibility, Abu Dhabi, Dubai, Doha, and Kuwait City emerge as top performers.'While the UAE's tax regime has evolved in recent years — introducing a federal corporate tax in 2023 and a 15% minimum tax for large multinationals beginning in 2025 — it has maintained a favourable overall environment for individuals. Qualifying Free Zone entities can still access 0% corporate tax rates, and reforms around audit standards, beneficial ownership disclosures, and FATCA/CRS compliance have been designed to bring the system closer to international norms without alienating mobile Multipolitan rankings are the latest in a string of research highlighting the UAE's draw for high-net-worth individuals. In April, Savills ranked Dubai and Abu Dhabi as the top two cities worldwide for wealthy individuals to live and work, citing lifestyle, governance, climate, and safety alongside tax factors. The report found that more than 6,700 ultra-wealthy individuals relocated to the UAE last year, many from higher-tax jurisdictions like the UK, where marginal rates can reach 45%.Then in June, the Henley Private Wealth Migration Report projected the UAE would attract 9,800 new millionaires in 2025 — more than any other country. The value of capital associated with these moves is estimated at $63 billion, with the UAE recording a 98% growth in its millionaire population over the past report also looked at longer-term trends through two other metrics — the Wealth Preservation Cities Index 2015-2025 and the Smart & Sustainable Cities Index — with both UAE cities making the top the Wealth Preservation Cities Index, Abu Dhabi ranked 22nd and Dubai 24th on this list, marking the only Gulf entries in a group otherwise dominated by Western cities. The methodology here focused on inflation, currency stability, earnings, asset growth, and governance, before evaluating urban hubs on indicators such as property values and quality of Smart & Sustainable Cities Index, meanwhile, ranked Abu Dhabi in 23rd and Dubai close behind at 25th. The index examines long-term potential for preserving wealth through digital readiness, climate resilience, and political stability. The report places the UAE's performance within a broader trend of the Gulf region's coordinated drive to attract mobile capital. Seven cities from the region landed in the global top 20, including Manama (4th), Doha (5th), Kuwait City (8th), Riyadh (12th) and Muscat (17th).

Future Fund Oman approves projects worth $2.5bln
Future Fund Oman approves projects worth $2.5bln

Zawya

time4 days ago

  • Zawya

Future Fund Oman approves projects worth $2.5bln

Future Fund Oman (FFO) has demonstrated positive performance during its first year of operations, having approved 44 projects with a total project value of approximately RO 1.2 billion. FFO's contribution to these projects amounted to RO 333 million, while foreign capital contributions reached RO 885 million. This reflects growing international confidence in Oman's investment environment, according to a report by the Oxford Business Group (OBG) covering FFO's performance in 2024. The report highlighted the Fund's pivotal role in stimulating economic diversification and expanding the investment base in line with Oman Vision 2040. The report noted that Oman Investment Authority (OIA) established FFO with a capital of RO 2 billion, to be allocated over five years, as a key instrument to support sustainable growth and enhance the resilience of the national economy. The Fund operates within a comprehensive strategic framework designed to stimulate investment in promising high-potential sectors such as industry, renewable energy, ICT, agriculture, fisheries, and tourism, alongside emerging fields such as e-commerce, fintech, and electric vehicles. The report also emphasized that FFO's role goes beyond providing capital; it aims to empower SMEs, support venture capital firms, and foster an innovation ecosystem. This aligns with the Fund's structure, which allocates 90% of its capital to major national projects, while 10% is dedicated to supporting SMEs and venture-backed startups. Through this strategic capital distribution, the Fund complements the National Development Fund (NDF) and the Future Generation Fund (FGF), working together towards realizing Oman's Vision 2040. The report praised the recent legal and regulatory improvements in Oman aimed at attracting foreign investment and diversifying income sources. These reforms include the introduction of a new law allowing 100% foreign ownership in most sectors, the launch of the 'Invest in Oman' platform as a unified digital gateway to streamline licensing procedures, and the update of the list of activities prohibited for foreign ownership, now reduced to only 123 activities. Other initiatives include the implementation of the privatization law, which enabled transferring government assets to the private sector and international investors through IPOs. As a result of these improvements and OIA's efforts, FFO has been able to contribute significantly to the national economy through quality projects approved during its first year. These projects include investment funds, major national projects, and initiatives supporting SMEs and startups. The report highlighted the Fund's collaboration with Chinese partners to launch two investment funds. The first, the 'IDG Oman Fund', was launched in partnership with 'IDG Capital' to invest its entire capital of USD 200 million within Oman, targeting ICT, renewable energy, and electric vehicles. The fund focuses on attracting foreign direct investment and supporting the growth of advanced industries and clean technologies, marking a strategic step towards building an advanced industrial base in the Sultanate of Oman. In addition, FFO partnered with the Chinese firm 'EW Partners', which focuses on investments in the Middle East and North Africa, developing an investment platform that connects leading Chinese companies with expansion opportunities in the GCC. The partnership resulted in the establishment of the 'EWTP Oman Fund' with a capital of USD 250 million, aiming to invest the entire amount within Oman in sectors such as ICT, renewable energy, tourism, and agriculture. This fund's importance lies in its focus on attracting leading Chinese industrial companies to establish their regional operations in Oman, creating local job opportunities, and strengthening supply chain capabilities, which aligns with the OIA's 'Oman Angle' philosophy. In addition to creating investment funds, FFO has undertaken a crucial role in supporting major national projects such as the United Solar Polysilicon Plant in Sohar Free Zone. This project is the largest of its kind outside China, with a production capacity of 100,000 tons of polysilicon. Abdulsalam al Murshidi, President of OIA, highlighted the project's added value in his interview with OBG, saying: 'FFO has successfully established a value chain in Oman by investing in the United Solar Polysilicon plant in Sohar, reinforcing Oman's position as an influential player in the renewable energy sector.' According to the report, this project is expected to enable Oman to capture 4.4% of the global polysilicon market, estimated at USD 37.3 billion. The report also noted FFO's support for SMEs and startups, having approved several related projects, including Q-Pay, Oman's first certified 'Buy Now, Pay Later' provider; Bima, a digital insurance services platform; and the SERB Project for managing drone traffic. Furthermore, the report detailed the FFO's five-year strategic vision (2024–2028) and its expected economic impact. Projects approved by FFO in 2024 alone are anticipated to create over 1,600 direct jobs, diversify the economy to reduce reliance on oil and gas, empower entrepreneurial ventures, and foster innovation. These objectives align with the pillars of Oman Vision 2040, which aims to build a productive and diversified economy led by the private sector, support sustainable development through clean energy and green industries, create jobs, develop local talent, and transfer knowledge to Omani workers while strengthening local and international partnerships in renewable energy and advanced technologies. 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (

Non-bank financing spurs Oman's private sector growth
Non-bank financing spurs Oman's private sector growth

Zawya

time4 days ago

  • Zawya

Non-bank financing spurs Oman's private sector growth

MUSCAT: The alternative financing sector is gaining traction in Oman, emerging as a key catalyst for private sector development, according to Olivier Karno, Global Editor-in-Chief at Oxford Business Group. In a televised interview with CNBC Arabia, Karno emphasised the increasing role of non-bank financial solutions, 'In addition to traditional bank loans and credit facilities, the main sources [of funding] are linked to an increase in finance and leasing from the non-banking sector,' he shared. 'This area is essential because it frees up cash and allows companies to reduce the direct cost of obtaining credit and financing. So, if you're in an industry that needs capital — for example, in mining, where the equipment needed to start operations is expensive — instead of turning to traditional lenders, using finance and leasing becomes a flexible and essential solution. It requires a lower volume of initial capital.' Karno noted that these solutions are valuable especially for start-ups and SMES, which often face barriers to accessing traditional financing, 'This is critical for start-ups and for small and medium-sized enterprises, especially in line with Oman Vision 2040. These companies can now access new types and forms of financing.' According to the analyst, alternative financing not only aligns with Oman's economic transformation, but also represents an emerging sector of finance. 'What's important about this sector is that it not only aligns with the growth recorded in Oman in terms of strategy, industrialisation, renewable energy and technology, but also because it represents a fast-changing, dynamic and emerging area of finance. Without a doubt, this is essential for the growth of the private sector, and also for overall economic growth in the Sultanate of Oman.' 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store