Al Nuaimi: “Our strategic goal is to make Ajman’s global economic environment attractive to international investment.”

Under the patronage of H.H. Sheikh Humaid Bin Rashid Al Nuaimi,Member of Supreme Council, Ruler of Ajman, the first Ajman International Economic Conference is set to take place on 7th of April 2010 with the participation of the Global and Regional economic and business leaders. During the press conference which was held at the Ajman Free Zone Authority conference ballroom attended by regional and global media organizations, the AFZA has

announced the hosting of the Ajman International Economic Conference, scheduled to take place in April 7th 2010, at the Kempinski Hotel, in Ajman, UAE.

Sheikh Mohammed Bin Abdullah Bin Sultan Al Nuaimi, Director General of Ajman Ports Customs Department & Ajman Free Zone Authority, said that, “Implementing the directives of His Highness Sheikh Khalifa Bin Zayed Al Nahyan, His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, His Highness Sheikh Humaid bin Rashid Al Nuaimi, Supreme Council Member and Ruler of Ajman and His Highness Sheikh Ammar bin Humaid Al Nuaimi,Crown Prince of Ajman, the Ajman Free Zone authority has organized this conference, which will focus on the making Ajman an internationally attractive economic hub.

He noted that, “There is a distinguished need for the regional and global economic institutions and leadership development to keep pace with economic competitiveness and increase global investment into the state to support positioning the name of United Arab Emirates and its institutions on the global economic map, particularly now when the world is witnessing changes and challenges in light of growing international strategic initiatives. Being equipped to face the global financial crises very professionally based on strategic plans.”

Al Nuaimi, said, “The conference will focus on planning, business development and creating strategies which will craft the vision for making crucial economic decisions at the regional and global level since global economic trends are indicating signs of recovery from the crisis. It should deal with the current phase of the economic challenges by providing the region with the distinctive and successful strategies, economic practices, knowledge and experience.

“The conference brings together economic leaders and decision-makers from the government and business community, regional and international organizations to exchange views, ideas and experiences on the multiple challenges posed by the global economic decline. It aims to create a framework to develop a practical strategic approach to the process of economic diversification in the United Arab Emirates in particular and the region in general.
It will provide an opportunity to discuss how to meet challenges and develop superlative scientific practices to strengthen the economic approach, in addition to addressing important topics including global and regional experiences in dealing with economic crisis in the region and finding the best way to reflect the experiences of successful economic models and establish all new institutional and legal mechanisms of investment, leading the way to a new global economy.”

He stressed that, “The strategy of the Ajman Free Zone Authority is to support and contribute to the development of the national economy in the United Arab Emirates, by endorsing Ajman as a globally attractive economic interface for investors and businesses. It aims to achieve the desired gains and keep up with the international economy. This conference furnishes trends and ideas on current economic investments at the international level. It is responsible for displaying targeted programs and building up new developments in the economic arena while highlighting its impact on investment opportunities, internally and externally, with a focus on economic issues related to the strategic aspirations of the state
and the region in general.”

Expressing his views on the vision of the Ajman Free Zone Authority, Al Nuaimi, said, “It is now competing to attract businessmen and investors, through conferences and events, the people will get updated with the recent economic climate, investment and modern renaissance experienced by the emirate of Ajman. Its vision and aspirations are pinned on making the Ajman Free Zone the hub of local, regional and global competitive markets
to transform it into a global platform for the advancement of economic development in the United Arab Emirates.”

Elaborating on the significance of hosting this conference, he said, “The Ajman International Economic Conference is a starting point for numerous further international economic forums which will be hosted by the Ajman Free Zone Authority in order to reach the strategic goal of enhancing the status of Ajman Free Zone as an economic powerhouse, and a pillar to strengthen the economy of Ajman in particular and the UAE.

The Ajman Free Zone has been able to consolidate regional and international importance, making it an economically viable and desired business location by companies and investors. This  indicates that the systems work based on a vision aimed at creating an attractive investment environment within a sustainable national economy, with a full commitment to ensuring that the economic development adopts the highest standards, attracting more investors and offering them with the best opportunities to achieve lucrative economic gains. The world today faces challenges and economic variations at an unprecedented rate, which requires addressing these challenges through economic forums such as the Ajman International Economic Conference.

“The conference is being organized to develop strategy mechanisms for the knowledge economy as well as the need to adopt global standards and norms required to lead economic institutions, business centers, and free zones in order to respond economic issues in the light of competitive changes and developments of the new global governance.”

He noted that, “The global economic competitiveness has become important for enterprises as for states, where both seek economic improvement and advancement. The conference will provide UAE free zones a wider opportunity for marketing and promotions in the modern economic stage. It is necessary for each state and its institutions to cope with the global competition and achieve a degree of excellence, innovation and keep pace with modern economic development in the region. ”

“The conference will focus on the era after the global financial crisis that swept global markets recently. It aspires to deliver a clear vision through the identification of incentives and indicators of world economic growth in order to enhance the ability of policy makers and planners to take advantage of economic opportunities and reducing risks to be able to contain the repercussions of the crisis successfully in the future.

“It is noteworthy that the conference is the first and only of its kind in the emirate and the region which will be held on an annual basis for free zone development. It will emphasize and enhance the important role in creating a favorable investment climate, attracting capital and foreign investment, developing trade and industries as well as the creation of employment opportunities. The Ajman Free Zone Authority plays an integral part in the economic system and this conference will be one of the most competitive conferences in the region. Envisioned by the elite business owners ,leaders
and thinkers of the world, it will discuss issues related to economic variables and competitiveness at the regional and global levels  to raise awareness and attention to the regional and global challenges and discuss topics related to the competitive process in business, international trade, sustainable development and investment environment, developing human resources in addition to topics directly related to economic competitiveness and investment.”

In support of Ajman’s vision of becoming globally competitive at the forefront of systematic global economic society, it emphasizes the importance of competitiveness in maximizing the possible advantages of the global economy and minimizing its disadvantages. The Ajman International Economic Conference will signify that smaller states are better able to take advantage of the concept of competitiveness as compared to the larger states, which
gives companies an opportunity to get out of the limited markets in order to confront the challenges of the twenty-first century. 

The Ajman Economic Free Zone firmly believes that it is essential that the government organizations in the region should take advantage of their economic policies to address imbalances and the global economic situation.