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27 August 12:00 AM

Ajman Chamber and AmCham organise America Business Forum

The Ajman Chamber of Commerce and Industry (ACCI), in cooperation with the US Consulate General and the AmCham Dubai, organized the America Business Forum to discuss ways to enhance the cooperation in various economic, tourism and educational fields, as well as exploring the most important investment opportunities available to both parties.

Held at Fairmont Hotel-Ajman, the Forum was attended by Sheikh Sultan bin Saqr Al Nuaimi, Board Member of Ajman Chamber, Sheikh Abdullah bin Ali Al Nuaimi, and Mohammed Ali Al Janahi, Executive Director of Investment and Business Development Division at Ajman Chamber. While the American delegation was led by Phil Frayen, the US Consul General, comprising Kara Nazai, Director General of the AmCham Dubai. Also present at the Forum were senior government officials, businessmen, traders and officials representing the economic and tourism sectors in the emirate.

Opening the Forum, Al Janahi stressed keenness of the Ajman Chamber under the guidance of its Board of Directors to strengthen the cooperation and increase the partnership with the entire world, as well as providing direct channels of communication between government officials and businessmen. 

He said, “Today, at the America Business Forum, we, diplomatic representatives, government officials and businessmen, meet to open new chapter of the effective cooperation between the USA and the emirate of Ajman.”

“Our Forum reflects a special importance, since that the statistics are promising a possibility of increasing bilateral trade between the two countries, in addition to providing the opportunity for cooperation in various economic, tourism, educational, health and other sectors,” he added.

Al Janahi continued, “The Emirate of Ajman under the guidance of our prudent leadership is keen to provide a variety of components that directly contribute to enhancing the economic sector and its attractiveness through catalyst packages with hassle-free and flexible procedures, thus strengthening the competitiveness of the emirate and increasing the satisfaction of investors and businessmen.”

He also said, “The Ajman Chamber welcomes investors and businessmen from the USA to explore the opportunities available in the emirate, and we are ready to provide all information and answer your questions and queries during the forum or later.”

Al Jahani further explained that the Forum would provide a direct communication channel that allows closer identification of the opportunities available in both countries in various fields translating the strong relations between the UAE and USA in general, and between Ajman and USA in particular.

He concluded by thanking everyone who attended and contributed to the organization of this vital forum, which is a key factor in strengthening and increasing the cooperation between the Emirate of Ajman and the USA.

Meanwhile, Phil Frayen, the US Consul General, stressed importance of the Forum and its role in promoting the cooperation in several fields, commending the depth of American-Emirati relations. He also noted that the trade exchange between the two countries is diverse, thus enhances the opportunities for cooperation and partnership between traders and investors.

He pointed out that the Forum would enhance the opportunities for direct communication between businessmen, in addition to highlighting the opportunities available in both countries. He further praised the efforts of the Ajman Chamber to strengthen the relations through ongoing meetings with the US Consulate and AmCham Dubai.

The Forum featured a presentation by Ajman Chamber on the emirate’s economic components and its featured location. It also showed the ease of doing business in the emirate, highlighting the most important sectors operating in it, particularly the industrial sector, which contributes 33 per cent to its GDP.  The construction and contracting sector comes in the second place with 14 per cent, followed by the real estate by 12 per cent and wholesale and retail by 12 per cent.  

The report pointed out that the membership of the Ajman Chamber increased to more than 40,000 members in 2018 compared to 23,802 in 2013 with a growth rate of 68 per cent. In addition, the number of factories operating in the emirate reached 982 factories during the 2018. 

The development of the tourism industry in the emirate was also mentioned, where the occupancy rate of hotels reached 71 per cent during 2018 with an increase of 10 per cent compared to 2015. Moreover, the number of hotel rooms reached 3,784 during 2018, and the number of tourists reached over 632,000 during the same period. 

A number of government departments and private companies in the emirate also briefed the attendees on the most important opportunities in Ajman and the incentives offered to businessmen and investors.

On the other hand, the US delegation introduced the investment opportunities available in the USA, to increase the direct investment of UAE investors and businessmen in the USA, since that these direct investments have already reached $ 26 billion by the end of 2018 according a report issued by the US Embassy in Abu Dhabi.  They also briefed them on the US visas for travel, tourism and education.

On the sidelines of the Forum, B2B meetings were held between the attendees to exchange views and discuss the possibility of partnership and cooperation in the future.

At the end of the Forum, Sheikh Sultan bin Saqr Al Nuaimi, Board Member of the Ajman Chamber and Phil Frayen, US Consul General, exchanged commemorative shields.

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