Ajman Free Zone signed a Memorandum of Understanding (MoU) with noon.com, the region’s leading digital marketplace, as part of its move to further enhance the local e-commerce sector and attract new investors to Ajman. The MoU will strengthen the cooperation and coordination between both parties as they work towards boosting the sector’s performance and supporting its steady expansion.
Under the MoU, existing Ajman Free Zone investors who hold e-commerce licenses can join Noon to utilize the homegrown platform’s extensive library of tools including a fully optimized platform, secure payment gateway, and established logistics and fulfillment network. Companies wanting to use noon as their digital selling platform but are not yet registered in the free zone can still obtain an e-commerce license to enjoy this privilege and other benefits. Apart from building enhanced cooperation and coordination, the MoU will also help fast-track the digital transformation not only of Ajman but also of the entire UAE, whose e-commerce market is considered the most developed in the Middle East and North Africa (MENA) region at 4.2 per cent penetration rate.
Eng. Ali Abdulla Bin Towaih Al Suwaidi, Director General, Ajman Free Zone, noted that the MoU between Ajman Free Zone and Noon reflects their shared commitment to forming strategic partnerships with leading players across industries, including the steadily rising UAE e-commerce market.
Eng. Al Suwaidi said: “Our strategic partnership with Noon, one of the country’s leading e-commerce platforms, will benefit both our investors and customers by opening up new opportunities for business expansion and development. The range of available services, for instance, will grow and become diverse as a result of this new collaboration, thus providing our investors and customers with more options and advantages. We are confident that this quality partnership will bring enormous benefits – particularly with regard to bolstering the growth of the e-commerce market – supported by the government’s unwavering assistance as well as the country’s continuous modernization of its digital infrastructure for more advanced services such as the offering of secure and convenient electronic payment methods.”
Yousef Almehrzi, Government Partnerships at Noon, said: “As the region’s leading homegrown digital marketplace, noon is proud to support businesses, offering them immediate access to our huge and highly engaged customer database along with our trusted services. Through our partnership with Ajman Free Zone we will be able to provide countless new businesses with the tools they need to expand their offering online, driving reach to new audiences, multiplying sales, enabling them to compete better in a digitally progressive retail market. We’re looking forward to welcoming SMEs and supporting their growth across the region.”
The MoU is aligned with Ajman Free Zone’s constant efforts to explore new partnerships with leading institutions and companies from various sectors, contribute to the growth of the national economy, diversify its offerings, and increase the global attractiveness and competitiveness of Ajman and the UAE.