World number three Alcaraz, 20, missed a month prior to Madrid with a forearm issue
tennis9 hours ago
Ajman Free Zone (AFZ) on Monday announced eight new incentives for companies based in the free zone for the second-half of 2020 to support them in these challenging times.
The free zone announced significant fee discounts and waivers, eased the cost of doing business, no fines on bounced cheques and cheque replacements, removal of fines on non-renewal of licences, and a 100 per cent waiver on the e-channel guarantee fee.
In addition, new and existing companies in AFZ can take three-month flexible installment payment plans on their business centre lease, flexible installment plans for six months on their offices, executive offices or warehouses rent, as well discount rates on company registration, and a 25 per cent discount on labour accommodation during the second half of 2020.
The new incentives will ensure the business continuity of more than 9,000 free zone companies and will benefit both new and existing customers. The free zone is home to investors from more than 145 countries.
On July 27, AFZ launched a strategic project to build a number of warehouses that serve an array of targeted sectors such as health, food, and sustainable development. The Dh36 million green project with a total built-up area of 9,070 M2 will consist of 82 units and service blocks that can be used as showrooms, warehouses or industrial facilities.
In addition to AFZ, free zones in other emirates have also extended their incentives to support tenants against the impact of the coronavirus pandemic.
Sheikh Ahmed Bin Humaid Al Nuaimi, chairman of AFZ, said that the fresh incentives demonstrate the free zone's commitment to provide an ideal business environment for continuous company growth and development despite challenging global economic conditions.
He further pointed out that the new package will specifically support small and medium enterprises (SMEs) that have been affected by the pandemic by reducing the cost of doing business and boosting their commercial resilience.
Sheikh Ahmed stated that the incentives will minimise the impact of the current global health crisis on their operations.
Dr. Mohammed Al Zarooni, chairman of World Free Zones Organization, recently said that free zones globally have not escaped this global disruption from coronavirus pandemic but their special status and distinct structures can help them weather the coronavirus pandemic storm in unique ways.
By putting clear strategies in place to manage their risk palette, from production to market and trade threats, free zones can emerge stronger and leaner from this crisis, he added.
waheedabbas@khaleejtimes.com
World number three Alcaraz, 20, missed a month prior to Madrid with a forearm issue
tennis9 hours ago
It was Chennai's fifth win from nine matches as they moved to third place in the points table with 10 points
cricket9 hours ago
Earlier, Arsenal held on for a pulsating 3-2 win over arch rivals Tottenham
football10 hours ago
Samsung cuts through the flaff with its Galaxy Tab S6 Lite, providing all the essential features you need at an affordable price
tech reviews10 hours ago
The country has several beaches and with that comes countless options to indulge in a hearty breakfast
food10 hours ago
In a touching Instagram post, Bipasha shared adorable pictures of themselves
entertainment10 hours ago
In this opulent saga, Bhansali delves into the world of Basra pearls
entertainment10 hours ago
The news comes just two days after his rape conviction was overturned by the New York Court of Appeals
entertainment10 hours ago