The Department of Economic Development in Ajman, in cooperation with the Ajman Chamber of Commerce and Industry, has issued an economic report on the volume of trade and investments between the Kingdom of Saudi Arabia and the Emirate of Ajman. The report indicated that the Kingdom of Saudi Arabia ranked first in exports from the emirate in 2023, accounting for 14% of the total value of export certificates. The total export value to the Kingdom amounted to AED 859.8 million in 2023, reflecting a growth rate of 29% compared to 2022, while it reached AED 397.6 million during the first half of 2024, according to statistics issued by the Ajman Chamber of Commerce and Industry.
The commercial relations between Saudi Arabia and the Emirate of Ajman have witnessed significant development, enhancing the economic partnership and driving trade exchange between them. The number of Saudi investors in the Emirate of Ajman reached 685 across various economic sectors until the current month of September. The growth rate of investors in the first half of 2024 increased by 13% compared to the first half of the previous year.
Saudi investors in various economic sectors praised the efforts of the Ajman government for providing an attractive investment environment under legislative and regulatory frameworks that contribute to business success. They also appreciated the incentives and facilities offered through the electronic services portal, which has attracted investors and helped them achieve success and growth in their projects.
The investors expressed their pride and appreciation for the relations between the UAE and Saudi Arabia, noting that the UAE’s celebrations of the Saudi National Day reflect the deep fraternal relations between the two countries.
Economic Partnership
On the occasion of the Saudi National Day, His Excellency Abdullah Ahmed Al-Hamrani, Director General of the Department of Economic Development in Ajman, stated: “We extend our heartfelt congratulations to the brotherly Kingdom of Saudi Arabia, its leadership, and people on their National Day. The UAE, its leadership, and people share the Kingdom’s joy, reflecting the deep common relations between the two countries, as well as the development of economic relations and trade exchange between the Kingdom and the Emirate of Ajman, which contributes to economic development and enhances economic partnership opportunities.”
Al-Hamrani emphasized the department’s commitment to developing economic relations between Saudi Arabia and the Emirate of Ajman by translating the directives of His Highness Sheikh Humaid bin Rashid Al Nuaimi, Member of the Supreme Council, Ruler of Ajman, and following up on the directives of Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman and Chairman of the Executive Council, to provide all facilities to brotherly Saudi investors, open new business opportunities, and work on enhancing economic partnership.
Al-Hamrani pointed out the increase in the number of new licenses issued to Saudi investors in the first half of 2024, which reached 114% compared to the first half of 2023, indicating a rise in the volume and diversity of investments in various economic activities.
He mentioned that Saudi investments were attracted in various economic activities, notably the construction and contracting sector, hospitality and restaurants, general trade, retail trade, and real estate sector.
Economic Links and Cooperation
His Excellency Salem Al-Suwaidi, Director General of the Ajman Chamber of Commerce and Industry, stated: “Saudi-Emirati relations at all levels are a global icon and a prominent example for other nations. The shared history and unified visions have led Saudi Arabia and the UAE to spearhead economic developments, regional stability, and the launch of major developmental initiatives and projects, thus increasing foreign investment attraction. Ajman has strong economic relations that positively impacted the growth of trade volume between the Kingdom and Ajman, which increased by 29% in 2023 compared to 2022.”
He extended congratulations to the leadership and people of Saudi Arabia on the occasion of the 94th Saudi National Day, praying for the continued prosperity and well-being of the Kingdom and its leadership and people.
Fertile Investment Environment
Saudi businessman and investor Mohammed Saud Mohammed Al-Shuyoukh, owner of a real estate company, highlighted that he chose the Emirate of Ajman due to the encouraging investment environment and incentives provided by the Ajman government through service departments with facilitative legal frameworks.
He said: “I started my business by implementing real estate development projects in Ajman city since 2017, and now, thanks to God, I have completed many real estate projects, which encouraged me to undertake new projects due to the success of the UAE’s economic vision and the promising growth in the real estate market in Ajman. The real estate sector is one of the thriving sectors, especially with the increasing demand for residential and commercial properties.”
He pointed out that the UAE’s celebrations with their Saudi brothers on the Saudi National Day reaffirm the strong fraternal ties between the Saudi and Emirati peoples, which have led to the presence of Saudi investors in the country and their desire to invest in the rapidly growing sectors in Ajman, such as real estate, tourism, and industry, which attract Saudi investors.
He praised the services provided by most government departments in Ajman through the internet and easy digital platforms for conducting government transactions, such as paying bills, fees, and issuing licenses. He noted that the Department of Economic Development in Ajman provides a digital window that has facilitated companies in obtaining commercial licenses online, making it easier for investors to start their businesses quickly and without complications.
Supporting Tourism Projects
Saudi businessman Mohammed Ameer Saeed, owner of “Zoya Health Resort,” said: “The resort is an exemplary model of outstanding projects in the Emirate of Ajman, enhancing the emirate’s competitiveness as a unique business and tourism destination, especially since the resort was executed on comprehensive and integrated scientific foundations.”
He mentioned that Ajman is witnessing continuous development and growth in various fields, thanks to the support provided by the Ajman government to develop and improve tourism infrastructure and support investment projects in the tourism sector, whether hotel projects or recreational areas, which enhances the tourism appeal.
He noted that the Saudi National Day is a great occasion to renew the strong and old ties between the peoples of Saudi Arabia and the UAE, which have reflected on the presence of Saudi investors and businessmen in the country due to the attractive environment. He highlighted the efforts of the Ajman government in facilitating its services and making them digital and easily accessible, encouraging Saudi investments in the emirate.
He explained that he chose the Al-Zorah area to establish the “Zoya Health Resort” because it is a new tourist destination located in a vast area that includes lakes and mangrove trees, home to various marine life, local plants, and birds.
Success in the Real Estate Sector
Saudi businessman and investor Dr. Ali Hassan Al-Baldi, owner of a real estate company, indicated that the real estate development projects he manages in several areas in Ajman are receiving great customer response due to the attractive investment environment and easy government services that have significantly encouraged the company to develop its work.
He confirmed that the celebration of the Saudi National Day by the Custodian of the Two Holy Mosques’ government and the celebrations witnessed in the UAE reflect the fraternal relations between the two countries under the wise leadership of the UAE, led by His Highness Sheikh Mohammed bin Zayed Al Nahyan, President of the State, and his brothers, the Rulers of the Emirates, which have attracted Saudi investors to the country, alongside the encouraging laws set by the Ajman government in the field of real estate development.
Dr. Al-Baldi said that his investment journey in Ajman began after the COVID-19 pandemic, noting that the pandemic’s effects had deterred many global investors from the real estate sector. However, the UAE’s and Ajman’s government’s ability to combat the pandemic attracted investors to confidently enter the sector, encouraging him to continue in real estate development.
He added that he bought land in the Al-Yasmeen area as a start for his real estate development project. Due to the attractive investment environment in Ajman, he encouraged his children to participate in the project, which expanded to several areas, resulting in the construction of more than 60 villas with modern specifications and many plots of land.
He observed during his multiple visits to the Emirate of Ajman that real estate development has become one of the main economic drivers in the emirate due to population growth and urban expansion, along with government support and facilities provided to investors, making Ajman a attractive destination for real estate investment in the UAE.