Ajman signs a AED 5 bn agreement for infrastructure investments

Ajman to see AED 5 bn in infrastructure firm: Ajman signed an MoU with engineering services contractor China National Electric Engineering, a subsidiary of state-owned Sinomach Group, paving the way for up to AED 5 bn in investments for infrastructure projects in the emirate starting next year, Gulf News reported.

The push comes as Ajman prioritizes infrastructure expansion, looking to leverage growing transportation links and attract private sector investment and expertise to support its development plans. “We are focused on expanding infrastructure and modern industries to attract global companies and support their operations in our emirate,” Crown Prince of Ajman Sheikh Ammar bin Humaid Al Nuaimi said.

Remember: Ajman’s GDP grew 6.25% in 2023, driven by growth in the manufacturing, wholesale and retail trade, and construction sectors.