(MENAFN- Emirates News Agency (WAM))
AJMAN, 21st June, 2018 (WAM) -- Abdullah Al Muwaiji, Chairman of the Permanent Economic Development Committee of the Ajman Executive Council, highlighted the importance of creating a sustainable economy and making the emirate an international economic centre for investors and businesses, in line with the "Ajman 2021" vision.
He made this statement during the sixth session of the committee in 2018, which was attended by its members, who reviewed the reply of Ajman Bank about establishing the "Ajman Real Estate Fund" with a suggested capital of AED50 million, and to allow businessmen to help develop the fund.
The committee was also briefed about a report on the first series of indexes and objectives of the strategic plan of the Ajman 2021 vision related to the "Green Economy," which will help promote sustainable economic development by developing, promoting and implementing relevant projects, in line with the best international practices in this area.
The committee listened to several remarks made by the Financial Control Authority of the Ajman Government on driving economic development, by diversifying local government investments in various economic sectors, as well as by benefiting from stable investment opportunities, through partnerships between the public and private sectors.
The Ajman Economic Development Department presented the key issues identified by a comparative study of licencing fees, which assessed the costs to businesses in the emirate, to drive economic development, enhance the level of planning, develop relevant strategies and reinforce the role of the private sector in the emirate's sustainable development.
The committee also discussed some recommendations to raise the level of confidence of the investment community and the competitiveness of local economic sectors, as well as to create an attractive investment environment that encourages commerce.
At the end of the session, Al Muwaiji praised the efforts of the committee's members and stressed that the topics discussed will benefit local economic sectors and help create a green economy, in line with the goal of the Ajman 2021 vision to realise the aspirations of the wise leadership and make the emirate a leading international economic model.
WAM/Nour Salman/MOHD AAMIR
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