Department of Economic Development Ajman and The Ministry of Economy Sign Agreement of Cooperation

Dubai, United Arab Emirates: Department of Economic Department Ajman, and Ministry of Economy have signed a mutual cooperation agreement with the aim of strengthening and enhancing the grounds of cooperation between the government entities.

With the signing of this agreement they agree to achieve their goals of enriching the business environment in the Emirate, and the country in general, develop the country’s ability to attract foreign investment and elevate its economic status.

The agreement was signed at the DED Head Office in Ajman by H.E. Engineer Mohammed Ahmed Bin Abdul Aziz Al Shehhi, Undersecretary of the UAE Ministry of Economy, and H.E. Ali Essa Al Nuaimi, Director General of the DED in Ajman. According to this agreement, the DED in Ajman will undertake a number of procedures aimed at simplifying license issuance procedures at the DED.

In this regard, H.E. Engineer Mohammed Ahmed Bin Abdul Aziz Al Shehhi, Undersecretary of the UAE Ministry of Economy said “we are pleased with the signing of this agreement with our strategic partners in Ajman DED. It comes as part of the Ministry’s efforts towards enriching the economy of Ajman. As such, we will continue in our endeavors to cooperate with various local entities concerned with the development of economic sectors and elevating them across the country. The new agreement will directly contribute to the enhancement of the local business environment as local government bodies publish information related to limited liability and joint stock companies as well as partnerships and collect due fees for the Ministry of Economy pursuant to the powers vested in them according to Federal Law No. 2 of 2015 regarding Corporations”.

At his end, H.E. Ali Essa Al Nuaimi, Director General of the DED stated that “this agreement will assist in the development of the license issuance procedures at the DED and, therefore, contribute in the enhancement of the Emirate’s business environment. It will also enhance the process of sharing expertise and knowledge and the effective communication with the Ministry of Economy in order to achieve a high level of ease in starting businesses in the Emirate of Ajman. It will also elevate the attractiveness of the Emirate to new investment”.

His Excellency affirmed the DED’s interest in playing an active and effective strategic role and to bring about a quantum leap in the Emirate’s business environment; allowing all its economic sectors to play an active role in this process in a way that achieves the Ajman 2021 Vision.

This includes creating long-term competitive advantages and the adoption of more flexible economic trends that focus on meeting the needs of clients and customizing goods and services to that end.

It also entails coordinating with strategic partners within an efficient network that is able to meet that rising demands of investors in addition to stimulating local entrepreneurship and attract direct foreign investment so that the UAE’s economy becomes a role model in sustainable and responsible growth that ensures economic and social prosperity on the long run.