12 Jul 2013 11:19

DUBAI, July 9 (Bernama) -- A Gulf-based company operating a free economic zone in United Arab Emirates (UAE)'s port city of Ajman is planning to expand its global reach by opening offices in key markets like India, Press Trust of India (PTI) reported.

The Ajman Free Zone Authority (AFZA) said opening these offices in the Indian subcontinent, Africa and the UK is part of its plans to attract global investors to its premises, which now houses over 7,000 companies.

"India has been a key market for us for many years and we believe there is untapped potential to tap a growing class of young Indian entrepreneurs who would like to get a vantage point for expanding into the Middle East markets," said AFZA general manager Mahmood Al Hashemi.

Over 40 percent of the investors in Ajman Free Zone are from the Indian sub-continent, with a growing number of investors from Africa.

"South Africa is another emerging market for us and we are keen to maximise our reach to investors from that country," Al Hashemi said.

AFZA offers executive offices for a monthly payment of US$555 to $777 and warehouses for its investors.

"We have also decided to investigate the possibility of incepting our own offices in the UK as it is the financial hub and Ajman Free Zone enjoys a constant flow of inward investment from the country," Al Hashemi said.