As part of its commitment to help grow and develop various local sectors and further drive Ajman’s economic progress, Ajman Free Zone has signed a Memorandum of Understanding (MoU) with the Emirates Development Bank (EDB). This mutually beneficial collaboration will help build a more vibrant business ecosystem in Ajman and the UAE.

The MoU primarily focuses on areas of mutual interest such as Emirati-led entrepreneurial ventures and small and medium enterprises (SMEs), sharing of expertise, and joint awareness and development initiatives, in line with the ‘Make it in the Emirates.’ Campaign. Ajman Free Zone is the first free zone to sign a partnership with the bank under this newly introduced strategy.

Under the terms of the agreement, EDB will extend suitable support to SMEs registered at Ajman Free Zone, in line with the bank’s applicable policies and procedures. In addition, the companies operating in the free zone will be given access to the bank’s key programs, innovative financing solutions, and other facilities.

This cooperation is the latest addition to Ajman Free Zone’s portfolio of strategic partnerships with the banking sector. Its agreement with EDB allows companies in the free zone, especially the SMEs, to have access to more banking facilities and competitive financing options that will support their expansion. Stronger government and private partnerships and enhanced value-added services are essential pillars of the free zone’s strategy to improve the competitiveness and attractiveness of the local business environment.