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Department of Economic Development – Ajman welcomes visit of official Chinese delegation to discuss investment opportunities

November 14, 2018
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Department of Economic Development – Ajman welcomes visit of official Chinese delegation to discuss investment opportunities

The Department of Economic Development – Ajman (DED-Ajman) welcomed an investment delegation from China led by Mr. Zhang Zuanyu, Chairman of the Liaocheng Municipal Committee of the Chinese People’s Political Consultative Conference (CPPCC). The delegation included several trade officials and private sector representatives from the solar energy, infrastructure and construction industries.

 

H.E. Ali Issa Al Nuaimi, Director General of Ajman DED, received the delegation together with DED officials and employees, and highlighted the importance of the visit amid the strong economic and trade relations between UAE and China. He explained the legislative environment in the country which provides a range of facilities for investors and enjoys the confidence of all stakeholders, referring to Federal Law No. 19 of 2018 which was issued recently regarding foreign direct investments (FDI), aimed at further strengthening the legislation and regulations for investment.

 

Al Nuaimi further noted Ajman DED’s interest in supporting foreign companies looking to expand their investments in the Emirate of Ajman. He also discussed the integrated services provided by the Department to investors in line with Ajman Vision 2021, which is focused on attracting investments and enhancing the economic growth of the Emirate.

 

Mr. Zhang Zuanyu, head of the Chinese delegation, said: “The UAE is the first non-oil trade partner of China, with bilateral trade growing steadily by 18.5 per cent, which reached up to USD 54.8 billion in 2013-2014 and USD 55 billion in 2015, while posting USD 46 billion in 2016. In 2017, China became the UAE’s largest trading partner, as the total non-oil trade between the two countries reached more than USD 53.3 billion which has grown 15 per cent compared to 2016.”

 

Mr. Zhang also emphasized the purpose of their visit and their keen interest to explore investment opportunities in Ajman, as well as enhance their cooperation with the Department in identifying key areas which offer promising opportunities for Chinese investors.

 

The Chinese delegation presented their investment objectives during the meeting. Mr. Zhang discussed the group’s interest in investing in the solar energy sector and introduced several companies that have extensive experience in this field. The group also presented their interest in infrastructure and construction projects.

 

DED-Ajman recognized during the meeting the major presence of Chinese companies in the retail sector in the Emirate and welcomed the expansion of Chinese investors into other sectors, especially in clean energy, which is in line with the emirate’s ambitions in promoting sustainability practices towards building a green economy. Both parties concluded the meeting with an agreement to establish network and linkages to serve their common aspirations in the field of investment.

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